One of Austria’s driest regions, Lower Austria is particularly affected by climate change. That’s why the regional administration has made strides to cut its carbon emissions and invest in green energy.
To contribute to this effort, Austrian energy producer WLK energy is building the new Engelhartstetten wind farm. Co-financed by the European Investment Bank and Erste Bank Austria with loans of up to €79.2 million, this 11-turbine wind farm will increase WLK’s production capacity by 75%. For people in Austria’s second-most populous region, which surrounds (but doesn’t include) Vienna, it means affordable, clean energy with a smaller carbon footprint.
“This project is very close to my heart,” says Mario Wohanka, managing director of WLK. “It has been eleven years in the making, but I am convinced persistence will pay off, satisfying our hunger for green electricity and transforming the energy sector.”
Investing in local communities
The Engelhartstetten wind farm is also an important anchor for investments in the future of the municipality and the region. It creates new jobs and unlocks funding for local facilities that improve daily life for citizens.
“Giving back is an important part of our philosophy,” says Wohanka.
Projects like this ensure that renewable energy production capacity grows fast. Wind farms also contribute to lower energy prices, making them more stable and resilient to external shocks.
“We partner with a dynamic local promoter to boost Austria’s renewable production capacity and address the needs of citizens severely impacted by energy prices,” says Cristina Span, a loan officer at the European Investment Bank.
The road to 100% renewables
Austria has an ambitious goal: by 2030, the country aims to generate 100% of its electricity from renewable energy sources.
The European Investment Bank was one of the first banks to finance wind farms in Austria and across Europe. It continues to be instrumental in accelerating the country’s decarbonisation. It signed the Engelhartstetten deal in October 2023. And the Engelhartstetten wind farm is a visible, tangible symbol of this energy revolution.
“This local wind farm is a piece of a bigger global jigsaw through which we shape the future of sustainable energy supply, globally, in Europe, and in Austria,” says European Investment Bank energy expert Andreas Heinz.
