EIB Bankrolls Belgian Offshore Wind Project

The European Investment Bank (EIB) has approved financing for an unnamed offshore wind project in Belgium as part of the EUR 3.4 billion investment package for renewable energy, energy efficiency, Near Zero Energy Buildings, hydropower and district heating projects.

According to the “Projects to be financed” section on EIB’s website, the only offshore wind farm in Belgium listed as being under appraisal is Parkwind's Northwester 2.

The amount of the financing requested and approved has not been disclosed.

The 224MW Northwester 2 offshore wind farm is located some 50km off the coast of Zeebrugge and will be the first to feature MHI Vestas 9.5MW wind turbines.

It is one of three offshore wind projects to be built at a lower strike price following the agreement reached between the developers and the Belgian government.

Parkwind expects to reach a financial close for the project in 2018, after which the construction of the wind farm is expected to start by 2020.

The wind farm is owned by Parkwind (46%), Colruyt (30%), Incontrol (14%) and TTR (10%), with Parkwind leading the development, construction, and operational activities on behalf of the project partners.

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