The €210 million loan represents a boost to the offshore wind sector and is the fourth Belgian project of its kind to receive support under the EFSI
The European Investment Bank (EIB) will support the construction of the Northwester 2 wind farm off the Belgian coast with a loan of €210 million. Slightly more than half of this amount will be guaranteed under the European Fund for Strategic Investments (EFSI), the central pillar of the Juncker Commission’s Investment Plan for Europe. The total cost of the project is estimated to be around €642 million.
Northwester 2 is the fourth wind project off the Belgian coast to be supported under the EFSI. Upon completion, it will deliver an estimated 219 MW of power to the grid. Construction is set to begin in May 2019 and the project is expected to become operational in 2020.