BAKU, Azerbaijan, January 31. The European Investment Bank Group (EIB Group) had a successful year in Austria, with a total lending volume of nearly 1.7 billion euros in 2024, Trend reports.
This marks a 30% increase over the previous year, with funding primarily directed towards energy projects aimed at reducing CO2 emissions and supporting the country’s renewable energy transition.
As Austria moves toward its goal of generating all electricity from renewable sources by 2030, the EIB Group played a key role in financing solar and wind energy projects. A significant portion of the total investment—64%—was allocated to climate-related projects. Notable investments included 80 million euros for six solar parks in Burgenland, which will power 71,000 households, and a 620 million euro loan for wind and solar parks by Burgenland Energie AG, set to meet one-sixth of Austria's electricity needs. The EIB also co-financed the Spannberg wind park in Lower Austria.
In addition to energy, the EIB Group supported Austria’s green industrial transition, including a 300 million euro grant for research and development at Voestalpine. The group also funded affordable housing projects in Salzburg and Tyrol, partnering with regional banks to finance 1,750 new rental units.
The EIB Group's investments in Austria in 2024 totaled 4.3 billion euros, leveraging 2.60 euros for every euro of financing provided. This includes 462 million euros for innovation and human capital and 329 million euros for sustainable cities and regions. The EIB Group’s role in boosting Austria’s green energy and industry remains central as the country works towards its sustainable future.