EIB loan for Belgian wind power plant
Friday 29 June 2012
The European Investment Bank (EIB) will grant €333 million to finance the Northwind (formerly Eldepasco) offshore wind power plant. The loan, announced on 2 June, will cover the construction and operation of a 216 MW offshore wind farm to be built on a sandbank located 37 km from the port of Ostend on the Belgian coast. This new facility will generate the equivalent of the energy consumption of 230,000 households and will be using the most innovative equipment and state-of-the art technology. The project is expected to be completed in mid-2014. It will help Belgium to meet its national and EU targets for renewable energy generation and will also contribute to environmental and security of energy supply objectives. These are all priority objectives for the EIB.