The European Investment Bank (EIB) announced an €80 million investment to co-fund the construction of six solar farms with battery storage in Burgenland, Austria. The PÜSPÖK Group is developing agrivoltaic farms, set for completion by mid-2026, providing clean electricity to 71,000 households.
The project, part of Austria’s renewable energy push, will also help reduce the country’s reliance on energy imports.
Partnership with Erste Bank
The EIB is partnering with Erste Bank, which contributes €43 million, with €28 million refinanced by the EIB. The combined investment will help finance the development of solar farms in the towns of Nickelsdorf, Parndorf, Gattendorf, and Mönchhof. The project will equip the farms with 257 MWp capacity and a 4.1 MW/8.6 MWh battery storage system.
Also read: EU and EIB Partner to Advance Energy Efficiency in Yerevan
Support from the EU’s REPowerEU Initiative
The project supports the EU’s REPowerEU plan, reducing oil and gas dependency while accelerating Europe’s green energy transition. Thanks to the REPowerEU initiative, the EIB will finance 72% of the project’s €144 million cost, much higher than usual. This funding mechanism underscores the urgency and importance of transitioning to renewable energy sources across the continent.
Lukas Püspök, CEO of PÜSPÖK said, “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.”
He added, “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.”
Also read: EIB and EIF Back Enpal’s €100 Million Solar Securitisation to Boost Renewable Energy Access
A Green Growth Opportunity
Erste Bank’s Hans Unterdorfer also highlighted the potential for green transformation to drive economic growth. “By building these solar farms, PÜSPÖK is helping create a decisive factor for a successful future: a reliable, sustainable energy supply.”he said
Burgenland solar farms are vital for Austria’s energy transition and the EU’s goal to reduce fossil fuel reliance.