Burgenland Energie has developed a wind and photovoltaic project portfolio in Burgenland that includes PV and wind generation capacities of around 2,000 megawatts by 2030 – this corresponds to around twenty percent of the solar and wind energy capacity currently installed in Austria.

Project Tomorrow is a key flagship project with the aim of making Burgenland one of the first regions in the world to become climate-neutral and energy-independent by 2030.

The European Investment Bank signs contracts for the largest financing for green energy in Austria in which it has ever participated.

Unique financing partnership between Landesbank Baden-Württemberg, UniCredit Bank Austria, Erste Bank, Raiffeisen Bank International, Wiener Städtische and Talanx Group to expand renewable energy infrastructure. Burgenland Energie is Austria’s largest wind and photovoltaic company. In the last two years, the company has built up the largest project pipeline in Austria with a capacity of around 2,000 megawatts in the wind and photovoltaic sector. Some of these projects are already in operation or under construction.

The projects are spread across the whole of Burgenland, from north to south, in order to make the entire region energy-independent and energy-secure in the long term. Burgenland is one of the windiest and sunniest provinces in Austria. With the regional energy resources of wind and sun, Burgenland is set to be one of the first regions in the world to become climate-neutral and energy-independent by 2030.

The developed wind and photovoltaic project portfolio, which was presented today, provides for an investment of around 200 million euros in equity and around 500 million euros in debt capital in a first tranche by the end of 2026. A classic, state-of-the-art form of project financing was chosen, which was specially structured as portfolio financing and is a European leader in how the expansion of renewable energies can be successfully financed. This is financing without liability on the part of the owners, in which the borrowed funds are repaid solely from the future cash flow.

This financing is based on the strategic partnership with the state of Burgenland, which is investing in the subsidiary as part of “Project Tomorrow” and is the majority shareholder. The European Investment Bank (EIB), together with the largest Austrian banks (UniCredit Bank Austria, Raiffeisen Bank International, Erste Bank, Wiener Städtische) and European financial institutions (LBBW, Talanx Group), is supporting the construction of the largest portfolio of solar and wind power plants in Austria with a loan of EUR 250 million. A further EUR 100 million will be provided through EIB-backed loans from Erste Bank and LBBW. The project is the largest financing for green energy from photovoltaics and wind in which the EIB has ever participated in Austria.

The project benefits from risk sharing under the European Union’s InvestEU program. It also supports the European Union’s REPowerEU plan, which aims to reduce Europe’s dependence on fossil fuels as quickly as possible. The EIB Group is providing an additional EUR 45 billion for REPowerEU until 2027. By the end of 2023, the Bank had already financed EUR 21 billion under the plan.

Quotes

Governor Hans Peter Doskozil: “The province of Burgenland is joining a subsidiary of Burgenland Energie as a strategic partner. This project company will implement Austria’s largest expansion in the wind and photovoltaic sector with a volume of up to 2,000 megawatts. The proceeds from this expansion will be used to finance the Gols clinic. With ‘Project Tomorrow’, we are taking an important step towards climate neutrality, energy independence and planning security for the people of Burgenland and local businesses. At the same time, the expansion will reduce the risk of power blackouts or heating supply failures. That is why it is very important for Burgenland to make it clear that energy security should not be in the hands of private companies, but in the interests of public services.”

Stephan Sharma, CEO Burgenland Energie: “Europe has an international energy dependency that is still over 70 percent. Austria’s energy dependency is 60 percent, while Burgenland’s is only under 40 percent thanks to the expansion of renewable energies that has already taken place. The high energy dependency on international and unpredictable players also leads to a high level of uncertainty with energy prices for electricity and gas that are more than 200 percent higher than those in the USA and China. This is currently and permanently weakening the business location. That is why we are investing in the use of our domestic energy resources, wind and solar, which strengthen our energy independence and the security of Burgenland and Austria. We will implement around 40 wind and photovoltaic projects from northern to southern Burgenland in a unique and innovative form as wind and PV hybrid parks with agriculture and citizen participation. In doing so, we are also creating important economic stimuli through a value-added effect of around 3.6 billion euros, employment stimuli of around 12,000 jobs (FTE) and CO2 savings of around 7 million tons. Through the energy communities, we are thus creating permanently secure and affordable energy prices from wind and solar power for an entire region.”

“Solar and wind energy are cornerstones of the energy transition,” said EIB Vice-President Thomas Östros. “Large-scale projects like these lead by example and prove that we can improve the energy supply of regions, countries and even an entire continent in a remarkably short time. They bring us closer to a future in which we operate, work and live more independently and sustainably.”

Burgenland Energie CFO Reinhard Czerny: “Major challenges such as the climate transition are also major opportunities – they motivate us to break new ground. For us at Burgenland Energie, this is the biggest project in our company’s history – a truly historic milestone. Thanks to the excellent cooperation with our project partners and a well thought-out financing solution, we have succeeded in creating a new pioneering model for the future financing of large-scale climate transition projects – in Austria and throughout Europe.”

Robert Zadrazil, Country Manager Austria UniCredit: “This ground-breaking project in Burgenland shows how the energy transition can succeed and thus provide economic impetus for Austria. With this high level of investment, we are sending out a strong signal against the weakening economy in Austria and strengthening the location in the long term. This flagship project fits perfectly into UniCredit Bank Austria’s sustainability strategy.”

Johann Strobl, CEO of Raiffeisen Bank International:
“As a pioneer in sustainable financing solutions, we are proud to be part of this groundbreaking financing consortium. Project Tomorrow is not only a milestone for the Burgenland Energy Group and the state of Burgenland, but also of great significance for all of Austria on the path to green transformation. This flagship project vividly demonstrates how sustainable investments in renewable energy sources can accelerate the energy transition in Austria while also generating significant economic momentum. Through our involvement, we are strengthening national energy security, boosting the Austrian economy, and making a meaningful contribution to achieving climate goals.”

Hans Unterdorfer, Corporate Board Member at Erste Bank Austria:
“The green transformation of our economy is both a historic challenge and a tremendous opportunity. Energy security plays a crucial role in this. A reliable and cost-efficient energy supply is a key factor for the positive development of the business environment. The ‘Project Tomorrow’ has a pioneering impact on a sustainable future and contributes to the future success of Austria as a business location.”

Ralph Müller, CEO of Wiener Städtische:
“Through our investments in renewable energy, we are actively contributing to the successful energy transition. Additionally, we are expanding the diversification of our investments for the benefit of our clients. I am very pleased that Wiener Städtische is part of this project in Burgenland, and after our investments in wind and solar parks across Europe, we are now also making an impact in Austria.”

Jan Wicke, CFO of Talanx Group:
“We are excited to actively contribute to the energy transition with this investment. Due to the diversified project portfolio and the collaboration with the largest and most experienced local energy provider, this investment is attractive to us as an insurance investor – both from a sustainability and risk perspective.”

[Source: PA Burgenland Energy AG, March 4, 2025]