The European Investment Bank has provided a $376m (EUR280m) loan to two separate hydroelectric power projects in Austria.

Vorarlberger Illwerke AG is the recipient of the funding which will be provided to the 360 MW Obervermuntwerk II pumped storage power plant project and the 13 MW Rellswerk project, for which construction has already started.
Obervermuntwerk II
Obervermuntwerk II, in Austria’s Vorarlberg region, is designed to reduce power losses, add balancing capacity to the network and provide additional regulating energy, the EIB said on its website.

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