The European Investment Bank (EIB) and Elia Transmission Belgium (ETB) have entered into a significant agreement, signing a €650 million (approximately $703 million) green credit facility for the first phase of the Princess Elisabeth Island project, located 45 km offshore Belgium. This project is set to enhance Belgium’s renewable energy capacity and improve energy security.
Key Features of the Project
- Renewable Energy Capacity: The development will add 3.5 GW of offshore wind power to Belgium’s electricity grid over the next three years.
- Hybrid Infrastructure: The island will be the world’s first artificial energy island designed to accommodate both high-voltage direct current (HVDC) and alternating current (HVAC) infrastructure.
- Interconnector Systems: It will serve as a landing point for interconnector cable systems, linking Belgium to the UK and other neighboring countries, facilitating power exchanges.
- Construction Details: Initial caissons for the island are currently being constructed in Vlissingen, Netherlands, and will soon be installed offshore, where they will be filled with sand to form the island’s foundations.
Contracts and Developments
In June, ETB awarded contracts for the installation of 330 km of HVAC cables to two consortia: DEME/Hellenic Cables and Jan De Nul/LS Cable & System, each responsible for 165 km of cables. Additionally, the contract for the HVAC substations was awarded to the HSI consortium, which includes Iemants (Smulders), HSM Offshore Energy, and IV-Offshore & Energy [1][2].
Conclusion
The Princess Elisabeth Island project represents a significant step towards enhancing Belgium’s renewable energy infrastructure and achieving its climate goals. With the support of the EIB, ETB is poised to lead in innovative energy solutions that will benefit both the local and broader European energy markets.
Learn more:
- ETB secures credit facility for artificial energy island offshore Belgium | Offshore
- Belgian Energy Island Gets $700M EU Funding Boost
- Elia Transmission Belgium secures a €650 million green credit facility from the European Investment Bank for the Princess Elisabeth Island project
