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Summary sheet

Release date
7 April 2026
Status
Reference
Under appraisal | 04/12/2025
20250041
Project name
Promoter - financial intermediary
PRINCESS ELISABETH ISLAND - PHASE 2
ELIA TRANSMISSION BELGIUM SA
Proposed EIB finance (Approximate amount)
Total cost (Approximate amount)
EUR 1000 million
EUR 2296 million
Location
Sector(s)
  • Energy - Electricity, gas, steam and air conditioning supply
Description
Objectives

The project concerns an artificial island (the Princess Elisabeth Island) located 45 km off the Belgian coast. It will support electricity transmission infrastructure, and act as an electricity hub connecting new planned offshore wind farms (Princess Elisabeth Zone) to the onshore electrical transmission grid as they come online. This operation will cover the second phase of the program - the electrical infrastructure to be installed. The electrical infrastructure consists of a 220 kV-substation, 66kV cabins, as well as 220 kV/66 kV transformers. Electricity transport from the island to the shore will happen via 6 three-phase alternating current 220 kV cables between the energy island and the onshore 220 kV substation.

The project will act as an electricity hub connecting new planned offshore wind farms to the onshore electrical transmission grid. The project is expected to contribute to EIB Group Green Finance objectives, including climate mitigation. The use of an artificial island as an electricity connection hub is a first-of-a-kind in Europe, it hence contributes to TechEU objectives.

Environmental aspects
Procurement

The project falls under Annex I of Environmental Impact Assessment (EIA) Directive 2011/92/EU as amended by Directive 2014/52/EU and it was subject to an EIA procedure. The Competent Authority issued an environmental permit on 26 September 2023.

The Bank will require the promoter to ensure that contracts for implementation of the project have been tendered in accordance with the applicable EU procurement legislation, Directive 2014/25/EU as well as Directive 92/13/EEC or Directive 89/665/EEC as interpreted by the Court of Justice of the EU, with publication of tender notices in the EU Official Journal, as and where required.

Milestone
Under appraisal

Disclaimer

Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).

General enquiries and comments

The EIB is committed to open communication and encourages constructive stakeholder input regarding its activities.
Enquiries and comments concerning the EIB’s involvement in a project or the financing facilities, activities, organisation and objectives of the EIB, can be sent to the EIB Infodesk.
Alternatively, the EIB can be contacted through its external offices.
Queries regarding details of a specific project, in particular when it is under appraisal by the EIB, should preferably be addressed directly to project promoters.

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Complaints mechanism

Any complaint regarding alleged maladministration can be lodged via the EIB Complaints Mechanism. The European Ombudsman acts as an independent external accountability mechanism of the EIB.

Zero tolerance against fraud and corruption

The EIB has a zero tolerance policy on fraud or corruption. To report allegations of fraud and corruption relating to EIB-financed projects, please contact the Investigations Division. All reports will be treated as strictly confidential and handled in line with EIB investigation procedures and the EIB Group Anti-Fraud Policy.

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