The European Investment Bank (EIB) is providing an €85 million loan for the development of wind energy projects in Austria.
The funds will be channelled through the Raiffeisenlandesbank Niederösterreich-Wien AG (RLB NÖW) bank.
Project promoter WindLandKraft GmbH will build and operate three wind power projects, which will include 34 wind turbines and have a total capacity of 105MW.
It will be given €20 million (£16m) to cover the project’s initial construction phase.
They are scheduled to be commissioned by the end of 2015.
EIB Vice-President Wilhelm Molterer said: “This programme to expand renewable energy production demonstrates how seriously Austria takes climate action and environmental protection. At the same time, diversifying energy sources means greater long-term energy independence and security.”
The EIB has provided loans totalling €500 million in the last three years for Austria’s wind energy sector.