| Work Detail |
Bank backs Belgian offshore grid project to connect offshore wind farms to onshore grid
The European Investment Bank (EIB) has approved financing package to Elia Transmission Belgium for its Princess Elisabeth Island project.
The site will be the first building block in an integrated European high-voltage offshore grid connecting the offshore wind Princess Elisabeth concessions.
The artificial island located 45km off the Belgian coast will act as an electricity hub connecting new planned offshore wind farms and interconnectors to the onshore electrical transmission grid.
The total cost of the scheme is projected to be €1.1bn. EIB and Elia have not disclosed the details of the value and terms of the loan, but documents published by the bank show a package of up to €650m was under consideration.
The artificial island was subject to an environmental impact assessment procedure and the Competent Authority issued an environmental permit on 26 September 2023.
The project will contribute to the climate action and environmental sustainability (CA&ES) objectives, in particular to climate mitigation, said the EIB. |
