ISB Supports Austrian Wind Power

The European Investment Bank (EIB) is providing a EUR 3 million loan to Österreichische Bundesforste AG. This will be used to build and operate 4 additional wind turbines in the Pretul wind farm in Styria. The project is estimated to cost 21 million euros.

ISB Reiterates Support for Pretul Wind Farm

This is not the first time that ISB supports the development of wind power in Austria. It had already granted a loan to Österreichische Bundesforste in 2015 for the construction of the Pretul wind farm. At the time, it provided a loan of 36.7 million euros.

The latter allowed the construction of the wind farm with a capacity of 42 MW, thanks to the construction of 14 turbines. In addition, it is connected to an existing substation located 7 km away. The Pretul wind farm has been in operation since 2017.

With this new ISB loan, the capacity of the wind farm will increase by 16.6 MW. In addition, this financing is provided jointly by the EIB and the Raiffeisenlandesbank Oberösterreich.

Thomas Östros, ISB Vice President, is pleased:

“The additional wind turbines will increase power generation from renewable resources and help reduce carbon emissions and pollution compared to fossil fuel use. So we are proud to be part of this climate-friendly project.”

Because of its geographical position, at some 1,600 meters above sea level, the wind farm will house wind turbines specifically designed for a cold climate. This is a first in Austria.

In addition, it is about helping Austria to accelerate its energy transition. This funding is all the more important as Europe is going through a serious energy crisis. Georg Schöppl, Managing Director of Österreichische Bundesforste AG, is pleased to be part of Austria’s “energy turnaround”.