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Released November 19, 2024 | GALWAY, IRELAND
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Written by Martin Lynch, European News Editor for Industrial Info (Galway, Ireland)--The world's first artificial energy island off the coast of Belgium is to benefit from a 650 million-euro (US$691 million) financial boost from the European Investment Bank (EIB).
Developer Elia Transmission Belgium (ETB) (Brussels), the Belgian transmission system operator (TSO), will use the green credit facility to construct the first phase of the Princess Elisabeth Island project. The island will be constructed between 2024 and 2027 about 45 kilometers (km) off the Belgian coast within the Princess Elisabeth wind zone. It will act as an electricity hub that will bundle together the cables leading to windfarms in Belgium's second offshore wind zone and for transmitting the power back to the onshore grid. It will also serve as an intermediate landing point for interconnectors that link Belgium to other European countries. It will allow for up to 3.5 gigawatts (GW) of additional offshore wind capacity to be added to Belgium's grid, enough to power more than 3 million households.
"The Princess Elisabeth Island project is a cornerstone for enhancing Belgium's and Europe's energy security and independence," said Robert de Groot, vice president of the European Investment Bank. "This initiative not only strengthens Belgium's energy infrastructure but also fosters vital interconnections with neighboring countries, thereby promoting increased regional cooperation. By investing in this project, the EIB and Elia are deepening the European power market and paving the way for a sustainable, more secure and resilient energy future for all European citizens."
The island, which will cover six hectares, will host both high-voltage direct current (HVDC) and high-voltage alternating current (HVAC) infrastructure. The first of the island's caissons, or foundations, is currently being built in Vlissingen (the Netherlands) and will soon be sunk at sea and filled with sand to form the foundations of the island. Around 60 km of HVDC cables and 300 km of HVAC cables will be installed around it for bringing electricity back to the mainland. Belgium will also use it for interconnectors to other European countries including Denmark (via TritonLink) and the U.K. (via Nautilus). Industrial Info is tracking progress on three proposed windfarms in the zone. Subscribers to Industrial Info's Global Market Intelligence (GMI) Power Project Database can click here for a list of detailed project reports, and click here for a list of related plant profiles.
Last year, Industrial Info reported that Elia had awarded the key construction contracts for the project with the engineering, procurement, construction and installation (EPCI) contract to a Belgian consortium TM EDISON, formed by DEME and Jan De Nul. For additional information, see March 14, 2024, article--Firms Picked for World's First Energy Island.
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking over 200,000 current and future projects worth $17.8 Trillion (USD).
Developer Elia Transmission Belgium (ETB) (Brussels), the Belgian transmission system operator (TSO), will use the green credit facility to construct the first phase of the Princess Elisabeth Island project. The island will be constructed between 2024 and 2027 about 45 kilometers (km) off the Belgian coast within the Princess Elisabeth wind zone. It will act as an electricity hub that will bundle together the cables leading to windfarms in Belgium's second offshore wind zone and for transmitting the power back to the onshore grid. It will also serve as an intermediate landing point for interconnectors that link Belgium to other European countries. It will allow for up to 3.5 gigawatts (GW) of additional offshore wind capacity to be added to Belgium's grid, enough to power more than 3 million households.
"The Princess Elisabeth Island project is a cornerstone for enhancing Belgium's and Europe's energy security and independence," said Robert de Groot, vice president of the European Investment Bank. "This initiative not only strengthens Belgium's energy infrastructure but also fosters vital interconnections with neighboring countries, thereby promoting increased regional cooperation. By investing in this project, the EIB and Elia are deepening the European power market and paving the way for a sustainable, more secure and resilient energy future for all European citizens."
The island, which will cover six hectares, will host both high-voltage direct current (HVDC) and high-voltage alternating current (HVAC) infrastructure. The first of the island's caissons, or foundations, is currently being built in Vlissingen (the Netherlands) and will soon be sunk at sea and filled with sand to form the foundations of the island. Around 60 km of HVDC cables and 300 km of HVAC cables will be installed around it for bringing electricity back to the mainland. Belgium will also use it for interconnectors to other European countries including Denmark (via TritonLink) and the U.K. (via Nautilus). Industrial Info is tracking progress on three proposed windfarms in the zone. Subscribers to Industrial Info's Global Market Intelligence (GMI) Power Project Database can click here for a list of detailed project reports, and click here for a list of related plant profiles.
Last year, Industrial Info reported that Elia had awarded the key construction contracts for the project with the engineering, procurement, construction and installation (EPCI) contract to a Belgian consortium TM EDISON, formed by DEME and Jan De Nul. For additional information, see March 14, 2024, article--Firms Picked for World's First Energy Island.
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking over 200,000 current and future projects worth $17.8 Trillion (USD).
