Austrian utility EVN secures €110 million EIB loan for new wind farms

The European Investment Bank (EIB) will loan Austrian utility EVN €110 million to co-fund its investment in wind energy. 

EVN now plans to develop 103MW of wind farms, with construction expected to be completed in 2025. 

Austria currently has an operational wind capacity of 3.48GW across 198 wind farms according to Windpower Intelligence, the research and data division of Windpower Monthly. 

The landlocked country is currently aiming to produce 100% of its electricity from renewable sources by 2030, while reducing its greenhouse gas emissions by 36% from 2005 levels by the end of the decade. 

The capacities and locations of the wind farms included in the deal was not clear at the time of publication. 

The EIB said the wind farms would produce enough electricity to power over 72,000 homes in Austria.