Nov 22, 2024

EIB, Erste Bank co-finance Puspok's agri-PV, BESS projects in Austria

The European Investment Bank (EIB) said on Thursday that it will provide an EUR-80-million (USD 84.2m) loan to Austrian family-owned renewables developer Puspok Group to finance its agrivoltaic (agri-PV) solar and battery storage projects in eastern Austria.
In parallel, Austrian lender Erste Group Bank AG (VIE:EBS), through its savings bank unit, is providing EUR 43 million, of which EUR 28 million will be refinanced by the EIB.
Puspok will use the funds to construct six agrivoltaic solar farms totalling 257 MWp in the state of Burgenland. The project includes the installation of a battery energy storage system (BESS) with a capacity of 4.1 MW/8.6 MWh.
Construction of the plants, at sites in Nickelsdorf, Parndorf, Gattendorf and Monchhof, is expected to wrap up by mid-2026. Once in operation, they will run under Austria’s feed-in premium schemes, the EIB said.

Source: renewablesnow.com