Ofer Levin GTI: Renewable Energy Investments in Austria - a Leap towards 100% Green Goals
One of the valuable lessons that we have all learned in 2020, is that we need to take care of our environment to serve us well and for a longer time
By: Ofer Levin GTI
An excellent example of this is the wind farms being put up in Burgenland, aiming to generate about 144 MW from 26 turbines. The project has the potential of providing up to 90,000 families with power all year round. This is just one of the most recent projects as wind power generation has been going on in Austria since the 1990s.
Source of Funds for the Renewable Energy Projects
Ofer Levin believes that the main challenge faced by wind power generation Companies in Austria is the high startup cost. He further states that "The European Investment bank in conjunction with the European Fund for Strategic Investment is working out plans to provide both the equity and borrowed capital needed to fulfill the renewable energy agenda".
These two stakeholders understand the dire need for the projects to be up and running within the shortest convenience. To achieve a fully-fledged wind power generating station requires a massive investment of up to 143 Million Euros.
This project is being undertaken under a more comprehensive vision dubbed 'The Investment Plan for Europe'. The European Commission believes that this is one of those projects that will give the European economy a competitive edge on the global front.
The European Investment Bank is the leading financier for development projects in Europe and is owned by the member states. The 'investment plan for Europe', on the other hand, is the vehicle that the European Union has adopted to steer economic growth and create more job opportunities for its citizens.
Ofer Levin has lauded the European Investment Bank for the effort it has put in place to alleviate the effects that the COVID-19 pandemic has had on the Economy. The support the organization has offered to the wind power generation project is enough evidence that they have the masses' needs at heart.
Levin supports the opinion that renewable energy is clean energy. "Coronavirus has brought the world to a place of transition where people need to embrace everything clean. Clean eating habits, breathing clean air and using clean sources of energy. Adapting clean energy sources is of higher importance because of its impact on curbing adverse climatic changes and conserving natural resources such as forest covers and water catchment areas," concluded Ofer Levin GTI.
Page Updated Last on: Dec 14, 2020