The EIB has granted Austrian Energie Steiermark a EUR 90 million of loan.
The European Investment Bank (EIB) on 4th November granted Austrian Energie Steiermark a EUR 90 million of loan.
The European Investment Bank said in a statement that the bank is pushing ahead with climate change mitigation and environmental protection by providing the first Green Loan in Austria to Energie Steiermark.
The company will receive EUR 90 million of special climate action financing for sustainable investment projects.
More specifically, the funds will be used for further grid expansion measures to integrate renewable energies and other energy-efficiency projects.
The EIB, which has a long tradition of financing such projects, has now granted a Green Loan for the second time.
This instrument helps companies to implement their clear sustainability and decarbonisation strategies, the bank said.
The EIB Green Loan will only finance projects that are fully in line with the requirements of the Climate Awareness Bonds programme.