Austria has established itself as a leader in the renewable energy sector. The country prizes research, development and innovation and has the successes to demonstrate this. In 2015, Lower Austria, the nation’s largest state, was able to claim 100% of its electricity generation for over 1.5 million people from renewable energy sources. Prior to obtaining this goal, Lower Austria had invested a combined total of USD $3 billion in various forms of renewables, from solar to hydroelectric and eco-electric.

Exciting Projects for Wind Power

Mid-year 2016, the European Investment Bank announced an investment project involving production and distribution of electricity in Styria, Austria, the country’s second largest state. The project aims to build a hydropower plant in Graz, a wind farm in the Deutschlandsberg area and the associated connection grids and distribution essentials.

Wind power investment projects like these continue Austria’s successful trend in wind power development. With the advent of the Green Electricity Act in 2012, investments have increased and output has grown. From 2012 to 2015 alone, EUR 1.7 billion was invested in wind power to put 365 turbines in action with production of 1,015 MW. Reports indicate this trend will continue with Austria having the potential to reach 3,800 MW output by 2020 and 6,650 MW output by 2030. These figures would put wind power replacing standard power at 13.5% in 2020 and 24% by 2030.

Not only does Austria offer opportunities for investment in wind farms to create power alternatives, but it also offers manufacturing investment opportunities to support both local wind farms and farms throughout the world. These manufacturing opportunities come in the way of control systems, rotor blades, generators, steel and other high tech components for wind facilities. A perfect example is that of the Austrian company Bachmann who produces control systems found in wind turbines located throughout the globe.

Fertile Landscape for Growth

Ideally located with easy access to central and eastern Europe, Austria provides a dynamic business environment. With a highly trained workforce, outstanding technology and a focus on research and development, the country attracts foreign investors and innovative businesses. In fact, Austria has ranked 7th in the Sustainability Ranking of

Zürcher Kantonalbank and 8th on the Environmental Performance Index 2014.

Additionally, Austria offers both researchers and investors incentives through tax breaks and innovative funding programs. Interesting tax incentives come by way of items such as the tax-exempt apprenticeship allowance and tax loss carryforwards.

Contact Cornfield & Partners for insight into wind power investment and sales channel opportunities in Austria and other European countries. Contact info@cornfieldpartners.com or
call us on +44 (0) 20 7692 0873.

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