Elia locks in €1 bn EIB green loan for Princess Elisabeth Island
The European Investment Bank credit facility funds the second phase of Belgium's offshore energy island.
By Matthias Blank · drafted with the Vantage newsroom system, approved before publication
Elia Transmission Belgium has closed a €1 billion green credit facility with the European Investment Bank, with proceeds directed at the Princess Elisabeth Island project. Renews.biz confirmed the facility covers the second phase of the island's development.
Princess Elisabeth Island is intended to serve as a hub connecting Belgian offshore wind zones in the North Sea to the onshore grid and to neighbouring bidding zones via interconnectors. The €1 billion ticket from the EIB provides long-tenor, green-labelled debt, reducing refinancing risk for the project.
No construction timeline update was included in the Elia or Renews.biz items. The Energy Live News item reported construction approval for a major substation, though that item did not name the location or link it explicitly to Princess Elisabeth Island.
Source: Renews.biz
Photo by Radik 2707 on Pexels.
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