European Investment Bank
- EIB provides extra €20 million in financing for expansion of wind and solar power in eastern Austrian state of Burgenland
- Burgenland Energie secures €250 million in EIB financing to make the region energy-independent and climate-neutral by 2030
- Operation advances InvestEU programme and push to reduce Europe’s reliance on fossil fuels
The European Investment Bank (EIB) is increasing financial support for a major renewable-energy project in the eastern Austrian state of Burgenland with a €20 million loan to the region’s electricity supplier. The new credit to Burgenland Energie follows a €250 million EIB loan last year to the company for the project, which involves an expansion of wind and solar power.
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 (MW), equivalent to around 20% of Austria’s current wind and solar capacity. In addition to directly financing Burgenland Energie, the EIB has supported loans from Erste Bank and Landesbank Baden-Württemberg totalling €100 million for the project.
“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.“
The EIB financing is supported under the European Union’s InvestEU programme. The project also advances the REPowerEU plan to reduce Europe’s dependence on fossil fuels and accelerate the deployment of renewable energy.
“Austria and Europe need more renewable energy produced domestically,” said Stephan Sharma, Chief Executive Officer of Burgenland Energie. “Five years ago, Burgenland was 50% energy-independent. Today, that figure has already reached 75%. This success demonstrates what is possible when you consistently believe in a vision and turn it into reality, step by step. Our 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. 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.”
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. The total investment is estimated at approximately €1.5 billion. 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.
Background information
EIB Group
The European Investment Bank ( ElB) 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 €100 billion of new financing and advisory services for over 870 high -impact projects in eight core priorities that support EU policy objectives: climate action and the environment, digitalisation and technological innovation, security and defence, territorial cohesion, agriculture and the bioeconomy, social infrastructure, strong global partnerships and the savings and investment union. Beyond long-term loans for large infrastructure, the EIB Group crowds in private investment for high-risk innovative projects and businesses, with a growing role in Europe’s markets for venture debt, venture capital, guarantees and securitisations.
The European Investment Fund ( EIF) is the subsidiary of the EIB Group specialised in providing guarantees, securitisation and equity to improve access to finance for small and medium-sized businesses and startups across Europe. Acting as an anchor investor, through its extensive network of partnering banks and investment funds, the EIF mobilises private investment and nurtures the ecosystem of venture capital funds to support innovative European entrepreneurs.
With the support of all 27 EU governments, the EIF has joined forces with institutional investors in a pan-European alliance to mobilise up to €80 billion for investment into innovative companies scaling up to become global leaders. The joint effort will expand the size and scope of the highly successful European Tech Champions Initiative, which has helped create 15 European mega-funds and scale 45companies, including 12 unicorns, since being established three years ago.
High-quality, up-to-date photos of the EIB Group’s headquarters for media use are available here.
About Burgenland Energie
Burgenland Energie AG is an Austrian energy company that is making major investments to expand renewable energy. The company’s strategy is focused on its transformation from a conventional energy supplier to a leading greentech company in Europe. It seeks to make Burgenland one of the first climate-neutral regions in Europe by 2030.
