Rautner advises oekostrom AG and Erste Bank on wind farm financing
Rautner Rechtsanwälte provided comprehensive legal advice to oekostrom AG and Erste Bank on the largest investment project in the history of oekostrom AG. With seven new high-tech wind turbines of the powerful 4 MW class from market leader VESTAS, Austria’s largest independent energy service provider will supply more than 20,000 households with clean electricity from 2023, avoid 50,000 tons of climate-damaging CO2 and secure regional value creation for many years to come. At the same time, the wind farm project is also an important contribution to the goal of generating 100% electricity from renewable sources in Austria by 2030.
The total investment amount for the construction of the new wind power plants is EUR 45 million. EUR 7 million are mainly provided by oekostrom AG and partly by Greenpeace Energy and Stadtwerke Hartberg. The remaining EUR 38 million will be provided by Erste Bank as the financing credit institution. In doing so, oekostrom and Erste Bank were able to rely on the longstanding expertise of Rautner Rechtsanwälte in the field of renewable energy. “Thanks to our many years of experience, we are very familiar with all the essential legal, economic and technical processes and can therefore not only provide our clients with comprehensive support in realizing wind park projects of various sizes from day one in Austria, but also in realizing hydropower plants and photovoltaic systems, “comments Dr. Uwe Rautner the successful completion of the project financing. On the side of Rautner Rechtsanwälte, Dr. Uwe Rautner, LL.M. (LSE), Managing Partner and Mag. René Semmelweis, LL.M. (WU), Managing Associate, were involved in this project.