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02.12.2011

Austrian Wind Power (AWP) expands long-standing partnership with UniCredit in Burgenland/Austria:
UniCredit Leasing Austria finances two wind parks in Austria’s Burgenland region with a total volume of EUR 280 million

  • UniCredit Leasing Austria is financing two wind parks in the northern part of Austria's Burgenland region with a total volume of EUR 280 million. The total capacity of the 55 wind turbines will be 165 megawatts (MW) annually, corresponding to the annual average electric energy consumption of 115,000 single-family homes.
  • Of the total amount, EUR 200 million will be refinanced via the European Investment Bank (EIB).
  • The project contract has been signed in Eisenstadt today.
  • UniCredit Bank Austria takes the entire risk associated with the project and is also responsible for funding besides the EIB.
  • With a total financing volume of about EUR 360 million in Austria in 2011, UniCredit Leasing Austria has strongly expanded its business relating to renewable energy compared with 2010.
  • UniCredit Leasing Austria sees wind power as a clear winner in Austria: the total investment volume over the next eight years will be about EUR 3.2 billion.

Austrian Wind Power (AWP) – a wholly-owned subsidiary of BEWAG, the energy supply company in the Austrian region of Burgenland – is Austria's largest eco-power producer with currently 142 wind turbines. UniCredit Bank Austria's Corporate & Investment Banking Division and UniCredit Leasing Austria have been AWP's strategic financial partner from the very start, supporting the Burgenland-based eco-power pioneer with comprehensive strategic advice and customised solutions. This successful partnership, which has been maintained for many years, is now being expanded:

Since 2004, UniCredit Leasing Austria – Austria's largest leasing company – has financed 44 wind turbines of AWP at Parndorf, Deutschkreutz, Potzneusiedl and Kittsee. The Potzneusiedl wind park is now being expanded to include 2 additional Enercon E-126 turbines, which are the world's most powerful installations of this type, with a capacity of 7.5 MW. Test runs are under way and there are plans to connect the turbines to the power supply system by the end of this year.

The current project covers two additional areas in Burgenland with a total investment volume of EUR 280 million: 17 wind turbines are being set up in one area (Mönchhof, Halbturn, Nickelsdorf: about EUR 86 million) and 38 wind turbines in Andau (about EUR 194 million). Of the total amount, the EIB will refinance EUR 200 million. UniCredit Bank Austria takes the entire risk associated with this project and is responsible for funding another EUR 80 million besides the EIB. UniCredit Leasing Austria is in charge of structuring and handling the entire project. The wind turbines are supplied by Enercon, a company which has been a strategic partner of AWP/BEWAG for many years. Enercon is market leader in Austria and Germany, the number 2 producer in Europe and the number 4 worldwide.

The capacity of the wind turbines is 3 MW each, electricity production will total 165 MW annually, which corresponds to the annual average electric energy consumption of 115,000 single-family homes. The new project will be completed within the next three years (Mönchhof 4/2012 – 6/2013; Andau 6/2013 – 10/2014). AWP will thereby further expand its leading position as an eco-power producer and operate a total of 197 wind turbines in Burgenland. UniCredit Leasing has financed 99 wind turbines for the BEWAG Group with a total investment volume of EUR 400 million.

"We are looking forward to this trend-setting project because as market leader in the Austrian leasing market we can make our know-how available and further expand our leading position in financing renewable energy. Overall conditions in Austria are very favourable. We see wind power as a clear winner with a total investment volume of about EUR 3.2 billion over the next eight years. We are the only leasing company to offer a Vienna-based European Competence Centre for Renewable Energy. This gives Austrian investors a big advantage," says Martin Frank, CEO of UniCredit Leasing Austria.

"As a long-standing strategic partner of the BEWAG Group we have developed a customised solution jointly with UniCredit Leasing. This success and the added value for our customer is based on excellent cooperation between the product specialists of UniCredit Leasing and the Bank Austria team of specialists. And we have thereby once again impressively demonstrated our competence and expertise and UniCredit's performance capabilities," says Franz Frosch, Bank Austria Regional Head of Corporate Banking in Burgenland.

Enquiries: Bank Austria Media Relations Austria
 Martin Kammerer, tel. +43 (0) 50505 52803
 e-mail: martin.kammerer@unicreditgroup.at

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