Developers will have nine months to submit their bids to build the 700 MW offshore wind farm. The winner will be selected primarily on price competitiveness but will also take into account innovative criteria such as citizen participation and sustainability, according to Belgian Energy Minister Tinne Van der Straeten.
Two other wind farms will also be tendered in the Princess Elisabeth Zone, each with a capacity of 1,400 MW. Belgium is aiming for 5.8 GW of offshore wind capacity by 2030.
The new wind farms will be supported by a contract for difference (CfD), which provides financial stability for 20 years.
In September 2024, the European Commission approved this mechanism proposed by the Belgian government. In addition, the minister also said that a maximum strike price cap of EUR 95 per MWh would be enforced to ensure the cost to society is as low as possible.
“This flagship project demonstrates our commitment to accelerate the energy transition while strengthening Belgium’s energy security. It allows us to take control of our energy future and reduce our dependence on fossil fuels,” said Minister Tinne Van der Straeten.
“Moreover, By making citizen participation and sustainability key selection criteria, the Princess Elisabeth zone is laying the foundations for an energy future that is firmly focused on citizens.”
The Princess Elisabeth Island, the world’s first energy island, will be built some 45 kilometres off the Belgian coast, within the Princess Elisabeth Zone.
In October, Elia Transmission Belgium (ETB) and the European Investment Bank (EIB) signed an agreement for a EUR 650 million green credit facility whose proceeds will be used for the first phase of the Princess Elisabeth energy island project.
