The European Investment Bank (EIB) and Elia Transmission Belgium (ETB) have signed a €650m green credit facility agreement earmarked for the realisation of the first phase of the Princess Elisabeth Island project. The artificial energy island project, integrating 3.5 GW of additional offshore wind capacity into Belgium’s electricity grid, will be constructed between 2024 and 2027, at about 45 km off the Belgian coast within the Princess Elisabeth wind zone.
The high-voltage infrastructure installed on the island will bundle together the export cables of the Princess Elisabeth Zone wind projects, while also serving as a hub for future interconnectors that will link Belgium to the United Kingdom and other countries. These hybrid interconnectors will enable power exchanges between Belgium and its neighbours, whilst also being connected to large offshore wind plants in the North Sea to supply Belgium with renewable electricity.
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