The European Investment Bank is increasing its financial support for a major renewable-energy project in the eastern Austrian state of Burgenland with a USD 22.4 million loan to the region's electricity supplier, Burgenland Energie.

Additional Credit Follows USD 280 Million Loan

The new credit follows a USD 280 million EIB loan made to the company last year for the same project, which involves an expansion of wind and solar power in the region.

In addition to its direct financing, the EIB has supported loans from Erste Bank and Landesbank Baden-Württemberg totalling USD 112 million for the project. Other financing partners include the Austrian banks UniCredit Bank Austria and Raiffeisen Bank International, the Austrian insurer Wiener Städtische, and the German financial services group Talanx Group.

A Company Scaling Up Renewable Finance Capacity

Burgenland Energie is Austria's largest wind and solar PV company and has doubled its renewable energy generation capacity over the past five years. To achieve energy independence for Burgenland by 2030, the company plans to expand capacity by up to a further 2,000 megawatts, an amount equivalent to around 20% of Austria's current wind and solar capacity.

The ambition to make Burgenland one of the world's first climate-neutral and energy-independent regions by 2030 encompasses around 40 sites across the region, with total investment estimated at approximately USD 1.68 billion.

European Policy Backing

The EIB financing is supported under the European Union's InvestEU programme. The project also advances the REPowerEU plan, which aims to reduce Europe's dependence on fossil fuels and accelerate the deployment of renewable energy.

"Investments like these are making Europe's energy independence a reality while strengthening our industrial base and the fight against climate change," said EIB Vice-President Karl Nehammer.

"Energy is now a question of security and competitiveness. Burgenland shows what can be achieved when ambitious regional projects, long-term finance and European support come together."

Progress Toward Climate Neutrality

Stephan Sharma, Chief Executive Officer of Burgenland Energie, said Austria and Europe need more domestically produced renewable energy. According to Sharma, Burgenland was 50% energy-independent five years ago, and that figure has already reached 75%. He said the company's goal remains unchanged: 100% energy independence and climate neutrality by 2030.

"The additional financing from the European Investment Bank sends a strong signal that Europe believes in this path and shares this vision," Sharma said. "Together, we are demonstrating that the answer to the energy crisis, the climate crisis, and dependence on fossil fuel imports lies in Europe's renewable energy sources. Burgenland can show what Europe's energy future could look like."

About the Parties Involved

The European Investment Bank Group is the financing arm of the European Union, owned by the 27 Member States, and one of the largest multilateral development banks in the world. In 2025, the EIB Group signed USD 112 billion of new financing and advisory services for over 870 high-impact projects across eight core priorities supporting EU policy objectives, including climate action and the environment, digitalization, security and defense, and territorial cohesion.

Burgenland Energie AG is an Austrian energy company making major investments to expand renewable energy. Its strategy is focused on a transformation from a conventional energy supplier to a leading greentech company in Europe, with the aim of making Burgenland one of the first climate-neutral regions in Europe by 2030.

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