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EUR 438 million to support renewable energy in Belgium

Staff Writer | December 16, 2016
The European Investment Bank (EIB) will support the construction of the Norther wind farm off the Belgian coast with a loan of EUR 438 million.
Wind energy Belgium
Europe   For 324,000 Belgian families
Half of this amount will be guaranteed under the European Fund for Strategic Investments (EFSI), the heart of the Juncker Commission’s Investment Plan for Europe.

Norther is the third wind project off the Belgian coast to be supported under the EFSI. Upon completion, its 44 wind turbines will deliver an estimated 352 MW, enough to supply renewably generated electricity to around 324,000 Belgian families.

The wind farm will cut about 593000 tons of CO2-equivalent greenhouse emissions per year.

Construction is set to begin in the spring of next year and is expected to be operational in summer 2019.

The project is expected to create 2,530 person-years in employment, during the construction phase. It is expected to create further 16 full-time positions once operational.

The total cost of the project is estimated to be EUR 1.1 billion, of which the EIB would provide nearly 40%.

The project will use one of the largest offshore wind turbines in the world, with a rated capacity of 8 MW, which can be increased by 5% if wind conditions allow for it.