The European Investment Bank (EIB) is providing €80 million to the PÜSPÖK Group to build six agrivoltaic farms in Burgenland, Austria. This innovative project is being financed together with Erste Bank of the Austrian group of savings banks (Sparkassen). Erste Bank is providing a loan of €43 million, of which €28 million will be refinanced by the EIB.
By mid-2026, agrivoltaic plants with a total capacity of 257 MWp will be built in Nickelsdorf, Parndorf, Gattendorf and Mönchhof, accompanied by a modern battery storage system with a capacity of 4.1 MW/8.6 MWh. These plants will be able to meet the electricity needs of 71 000 households, making a major contribution to stronger security of supply and independence from energy imports.
"Rapidly expanding renewable energy is crucial for decarbonising the economy. The solar farms planned by PÜSPÖK represent another important step on the road to a climate-neutral energy supply and will help reduce Europe''s dependence on oil and gas imports," EIB Vice-President Thomas Östros said.
The projects will be run under feed-in premium schemes, in accordance with the Austrian Renewables Expansion Act. The operation is also supported by the European Union''s REPowerEU plan, the goal of which is to rapidly reduce Europe''s dependence on fossil fuels. Thanks to REPowerEU, the EIB can finance 72% of the total project cost of €144 million – an exceptionally high share compared to the usual 30-50%.
"The support of the EIB and Erste Bank is enabling us to realise six agrivoltaic farms, which constitute a milestone on our path towards a sustainable energy future. With a capacity of 257 MWp, not only are we accelerating Austria''s transition to energy independence, but we are also moving closer to achieving our climate goals. By integrating a high-performance battery energy storage system, we will ensure more stable feed-in and relieve the load on the grids," explained Lukas Püspök, CEO of PÜSPÖK. "This project is an important step for climate action and a liveable future.
The green transformation of the economy is one of the greatest challenges of our time. However, it is also an enormous growth opportunity for innovative companies. By building these solar farms, PÜSPÖK is helping create a decisive factor for a successful future: a reliable, sustainable energy supply. That is why we are especially pleased to be a partner in this forward-looking project," said Hans Unterdorfer, director for business clients at Erste Bank.
The investment also furthers the objectives of Austria''s National Energy and Climate Plan with the aim of converting all electricity generation to renewables by 2030.
For more than 25 years PÜSPÖK, a family-owned company headquartered in Parndorf and Vienna, has been working to generate electricity from renewable sources. Their expertise ranges from the development, financing, construction and operation of wind power and photovoltaic systems, to repowering as well as the implementation of electricity storage. The company currently generates clean electricity for more than 280 000 households, making it one of Austria''s largest private electricity producers. To stop climate change and leave the next generation a planet worth living on, PÜSPÖK works far beyond the limits of its own energy projects to protect the environment while preserving social justice.
For more than two centuries, Erste Bank and savings banks (Sparkassen) have been working to ensure the financial health of their now 4.2 million retail customers and SMEs with a comprehensive range of products and personal services. The Austrian group of savings banks is a service provider for all financial products, and is also a strong partner in Austria for financing real estate and residential projects. Savings banks are a reliable partner for industry and have close ties to the regions in which they operate. From the start, supporting public welfare has been a main pillar of their business model.
Implementation and operation of 6 ground-based agri-PV installations with a total installed capacity of ca. 257 MWp and a battery energy storage system in Burgenland, Austria.
The EIB Group — consisting of the European Investment Bank (EIB) and the European Investment Fund (EIF) — has provided Erste Bank der oesterreichischen Sparkassen AG (Erste Bank) with a guarantee for a €49 million mezzanine tranche of a synthetic securitisation transaction. The transaction is expected to provide capital relief, as provided for by the EU Capital Requirements Regulation. It is the first synthetic securitisation transaction in Austria that qualifies as a simple, transparent and standardised (STS) transaction under the European Securitisation Regulation.
The EIB is providing Erste Bank der oesterreichischen Sparkassen AG (Erste Bank) with EUR 100m in financing to support affordable housing in Austria. Erste Bank will add a further EUR 100m of its own funds to the EIB financing, enabling it to invest a total of EUR 200m in social housing over the next three years.
Intelligent insights & conversations with global power industry professionals
Source: European Investment Bank
The European Investment Bank (EIB) is providing €80 million to the PÜSPÖK Group to build six agrivoltaic farms in Burgenland, Austria. This innovative project is being financed together with Erste Bank of the Austrian group of savings banks (Sparkassen). Erste Bank is providing a loan of €43 million, of which €28 million will be refinanced by the EIB.
"The support of the EIB and Erste Bank is enabling us to realise six agrivoltaic farms, which constitute a milestone on our path towards a sustainable energy future. With a capacity of 257 MWp, not only are we accelerating Austria''s transition to energy independence, but we are also moving closer to achieving our climate goals. By integrating a high-performance battery energy storage system, we will ensure more stable feed-in and relieve the load on the grids," explained Lukas Püspök, CEO of PÜSPÖK. "This project is an important step for climate action and a liveable future.
For more than 25 years PÜSPÖK, a family-owned company headquartered in Parndorf and Vienna, has been working to generate electricity from renewable sources. Their expertise ranges from the development, financing, construction and operation of wind power and photovoltaic systems, to repowering as well as the implementation of electricity storage. The company currently generates clean electricity for more than 280 000 households, making it one of Austria''s largest private electricity producers. To stop climate change and leave the next generation a planet worth living on, PÜSPÖK works far beyond the limits of its own energy projects to protect the environment while preserving social justice.
For more than two centuries, Erste Bank and savings banks (Sparkassen) have been working to ensure the financial health of their now 4.2 million retail customers and SMEs with a comprehensive range of products and personal services. The Austrian group of savings banks is a service provider for all financial products, and is also a strong partner in Austria for financing real estate and residential projects. Savings banks are a reliable partner for industry and have close ties to the regions in which they operate. From the start, supporting public welfare has been a main pillar of their business model.
MIL OSI Europe News -
The Energy Central Power Industry Network® is based on one core idea - power industry professionals helping each other and advancing the industry by sharing and learning from each other.
If you have an experience or insight to share or have learned something from a conference or seminar, your peers and colleagues on Energy Central want to hear about it. It''s also easy to share a link to an article you''ve liked or an industry resource that you think would be helpful.
Your access to Member Features is limited.
Subscribe today to the Daily Power Industry Newsletter for the most up-to-date and relevant utility industry news.
Utilities Data Analyst IILakeland ElectricLakeland, FL
Lead Power Systems EngineerPJM InterconnectionAudubon, PA
About Energy independence austria
As the photovoltaic (PV) industry continues to evolve, advancements in Energy independence austria have become critical to optimizing the utilization of renewable energy sources. From innovative battery technologies to intelligent energy management systems, these solutions are transforming the way we store and distribute solar-generated electricity.
When you're looking for the latest and most efficient Energy independence austria for your PV project, our website offers a comprehensive selection of cutting-edge products designed to meet your specific requirements. Whether you're a renewable energy developer, utility company, or commercial enterprise looking to reduce your carbon footprint, we have the solutions to help you harness the full potential of solar energy.
By interacting with our online customer service, you'll gain a deep understanding of the various Energy independence austria featured in our extensive catalog, such as high-efficiency storage batteries and intelligent energy management systems, and how they work together to provide a stable and reliable power supply for your PV projects.