ETB secures credit facility for artificial energy island offshore Belgium
Oct. 29, 2024
The European Investment Bank and Elia Transmission Belgium (ETB) have signed a green credit facility agreement for the planned first phase of the Princess Elisabeth Island project offshore Belgium.
The European Investment Bank (EIB) and Elia Transmission Belgium (ETB) have signed a €650 million ($703 million) green credit facility agreement for the planned first phase of the Princess Elisabeth Island project 45 km offshore Belgium.
The development, within the Princess Elisabeth wind zone, will be constructed over the next three years, supplying an additional 3.5 GW of additional offshore wind power to Belgium’s grid.
Courtesy Elia Group
In addition, the island will be a landing point for further interconnector cable systems that will link Belgium to the UK and other neighboring countries.
According to ETB, this will be the world’s first artificial energy island to accommodate both high-voltage direct current (HVDC) and alternating current (HVAC) infrastructure. Its initial caissons are being built in Vlissingen, the Netherlands, and will soon be installed offshore and filled with sand to form the island’s foundations of the island.
The hybrid interconnectors will enable power exchanges between Belgium and other countries while also being connected to large offshore wind farms in the North Sea.
In June, ETB awarded contracts for the 330 km of HVAC cables to the DEME/Hellenic Cables consortium and to Jan De Nul/LS Cable & System, both for 165 km of cables.
The contract for the HVAC substations went to the HSI consortium of Iemants (Smulders), HSM Offshore Energy and IV-Offshore & Energy.
