ENGELHARTSTETTEN (EIB-20230514)

Regions
  • Europe and Central Asia
Geographic location where the impacts of the investment may be experienced.
Countries
  • Austria
Geographic location where the impacts of the investment may be experienced.
Specific Location
Engelhartstetten, district of Gänserndorf, Lower Austria
Whenever identified, the area within countries where the impacts of the investment may be experienced. Exact locations of projects may not be identified fully or at all in project documents. Please review updated project documents and community-led assessments.
Financial Institutions
  • European Investment Bank (EIB)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Active
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
U
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Voting Date
Oct 24, 2023
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
Borrower
Windlandkraft GmbH
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Energy
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 70.99 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Currency conversion note:
Bank reported 67
Converted using 2023-10-24 exchange rate.
Loan Amount (USD)
$ 70.99 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Currency conversion note:
Bank reported EUR 67 million
Converted using 2023-10-24 exchange rate.
Project Cost (USD)
$ 95.36 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Currency conversion note:
Bank reported EUR 90 million
Converted using 2023-10-24 exchange rate.
Bank Documents
Media Documents
Other Related Projects
Primary Source

Original disclosure @ EIB website

Updated in EWS Nov 10, 2023

Disclosed by Bank Oct 12, 2023

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Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

As stated by the EIB, the project concerns the implementation and operation of 44,85 MW wind farm in Engelhartstetten (district of Gänserndorf, Lower Austria).

The wind farm will primarily reduce carbon and air pollution emissions, which are externalities the market fails to address. It will also foster the integration of new, variable renewable generation technologies in the market. Ultimately, it will support the development of new renewable capacities with more market-exposed structures.

Construction of the wind farm started on 9 November and is set to last for 15 months. Grid connection is planned for December 2024, with commercial commissioning taking place in March 2025. In parallel, WLK energy has concluded a 15-year electricity supply agreement with Lenzing AG, a producer of wood-based textile fibres. Lenzing aims to cut CO2 emissions per tonne of fibres in half by 2030, and to become carbon-neutral by 2050. Another customer for the wind-power is Messer Austria, a manufacturer of industrial gas. 

Early Warning System Project Analysis
For a project with severe or irreversible impacts to local community and natural resources, the Early Warning System Team may conduct a thorough analysis regarding its potential impacts to human and environmental rights.

The project is located in a particularly sensitive bird area.

Investment Description
Here you can find a list of individual development financial institutions that finance the project.

Erste Bank der österreichischen Sparkassen will add €27.7 million to the project.

Private Actors Description
A Private Actor is a non-governmental body or entity that is the borrower or client of a development project, which can include corporations, private equity and banks. This describes the private actors and their roles in relation to the project, when private actor information is disclosed or has been further researched.

As stated by the EIB, WLK energy is a privately owned Austrian energy producer. WLK energy’s mission is to provide a reliable supply of clean electricity from renewable sources to private households and businesses. It focuses in particular on the development, construction and operation of wind and solar farms and the distribution of the electricity generated.

Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
Erste Bank der oesterreichischen Sparkassen AG (Erste Group Bank) Investor Finance invests in Windlandkraft GmbH Client Energy
Windlandkraft GmbH Client Energy contracts with Lenzing AG Buyer Energy
Windlandkraft GmbH Client Energy contracts with Messer Austria GmbH Buyer Industry and Trade

Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

Client - Windlandkraft GmbH:

Address: Agrarstraße 1, 2284 Untersiebenbrunn
Phone: +43 2286 430 40
Email: office@wlk.energy
Website: www.wlk.energy

ACCESS TO INFORMATION

You can submit an information request for project information at: https://www.eib.org/en/infocentre/registers/request-form/request-form-default.htm

ACCOUNTABILITY MECHANISM OF EIB

The EIB Complaints Mechanism is designed to facilitate and handle complaints against the EIB by individuals, organizations or corporations affected by EIB activities. When exercising the right to lodge a complaint against the EIB, any member of the public has access to a two-tier procedure, one internal - the Complaints Mechanism Office - and one external - the European Ombudsman. A complaint can be lodged via a written communication addressed to the Secretary General of the EIB, via email to the dedicated email address: complaints@eib.org, by completing the online complaint form available at the following address: http://www.eib.org/complaints/form via fax or delivered directly to the EIB Complaints Mechanism Division, any EIB local representation office or any EIB staff. For further details, check: http://www.eib.org/attachments/strategies/complaints_mechanism_policy_en.pdf

When dissatisfied with a complaint to the EIB Complaints Mechanism, citizens can then turn towards the European Ombudsman. A memorandum of Understanding has been signed between the EIB and the European Ombudsman establishes that citizens (even outside of the EU if the Ombudsman finds their complaint justified) can turn towards the Ombudsman on issues related to 'maladministration' by the EIB. Note that before going to the Ombudsman, an attempt must be made to resolve the case by contacting the EIB. In addition, the complaint must be made within two years of the date when the facts on which your complaint is based became known to you. You can write to the Ombudsman in any of the languages of the European Union. Additional details, including filing requirements and complaint forms, are available at: http://www.ombudsman.europa.eu/atyourservice/interactiveguide.faces

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