In a resounding demonstration of commitment to renewable energy, the European Investment Bank (EIB) has extended a €110 million loan to EVN AG, a distinguished energy and environmental services provider in Lower Austria. EVN AG's ambitious plan involves the development of wind farms, harnessing the power of nature to generate clean electricity. This investment aligns seamlessly with Austria's climate action goals and contributes to the REPowerEU plan, a bold initiative aimed at reducing dependence on fossil fuel imports. EVN AG, renowned for its hydropower, wind, and solar energy initiatives, has emerged as a frontrunner in the pursuit of sustainable electricity generation. By leveraging its subsidiary evn naturkraft Erzeugungsges.m.b.H, EVN AG has the capacity to supply approximately 590,000 households with green electricity. This remarkable feat mitigates an astounding 1.1 million tonnes of CO2 emissions annually, underscoring the company's commitment to combating climate change. The latest investment program will empower EVN AG to further expand its wind and solar energy portfolio.The wind farms backed by the EIB loan are set to play a pivotal role in Austria's National Energy and Climate Plan (NECP). The country has set a remarkable target of generating 100% of its electricity from renewable sources by 2030. EVN AG's wind farm projects, scheduled for completion by early 2025, embody the nation's determination to achieve this ambitious goal. Notably, this investment marks EVN AG's fifth collaboration with the EIB and represents the first project to qualify as a green loan.Beyond Austria's boundaries, this investment contributes significantly to the REPowerEU plan. By bolstering clean energy financing, the EIB is actively working towards reducing the European Union's reliance on Russian gas and oil. With an additional commitment of €30 billion, the EIB is poised to unleash the full potential of clean energy lending. The magnitude of these investments is projected to mobilize an impressive €115 billion in additional funding, propelling Europe towards energy independence.Thomas Östros, Vice-President of the EIB overseeing projects in Austria, commends EVN AG's dedication to accelerating the transition towards greener power generation. As the EU climate bank, the EIB remains committed to supporting the development and implementation of renewable energy technologies. EVN AG's ambitious rollout program serves as a testament to the green energy transition's importance, aligning with the EIB's top priority.
In a resounding demonstration of commitment to renewable energy, the European Investment Bank (EIB) has extended a €110 million loan to EVN AG, a distinguished energy and environmental services provider in Lower Austria. EVN AG's ambitious plan involves the development of wind farms, harnessing the power of nature to generate clean electricity. This investment aligns seamlessly with Austria's climate action goals and contributes to the REPowerEU plan, a bold initiative aimed at reducing dependence on fossil fuel imports. EVN AG, renowned for its hydropower, wind, and solar energy initiatives, has emerged as a frontrunner in the pursuit of sustainable electricity generation. By leveraging its subsidiary evn naturkraft Erzeugungsges.m.b.H, EVN AG has the capacity to supply approximately 590,000 households with green electricity. This remarkable feat mitigates an astounding 1.1 million tonnes of CO2 emissions annually, underscoring the company's commitment to combating climate change. The latest investment program will empower EVN AG to further expand its wind and solar energy portfolio.The wind farms backed by the EIB loan are set to play a pivotal role in Austria's National Energy and Climate Plan (NECP). The country has set a remarkable target of generating 100% of its electricity from renewable sources by 2030. EVN AG's wind farm projects, scheduled for completion by early 2025, embody the nation's determination to achieve this ambitious goal. Notably, this investment marks EVN AG's fifth collaboration with the EIB and represents the first project to qualify as a green loan.Beyond Austria's boundaries, this investment contributes significantly to the REPowerEU plan. By bolstering clean energy financing, the EIB is actively working towards reducing the European Union's reliance on Russian gas and oil. With an additional commitment of €30 billion, the EIB is poised to unleash the full potential of clean energy lending. The magnitude of these investments is projected to mobilize an impressive €115 billion in additional funding, propelling Europe towards energy independence.Thomas Östros, Vice-President of the EIB overseeing projects in Austria, commends EVN AG's dedication to accelerating the transition towards greener power generation. As the EU climate bank, the EIB remains committed to supporting the development and implementation of renewable energy technologies. EVN AG's ambitious rollout program serves as a testament to the green energy transition's importance, aligning with the EIB's top priority.
