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    Reference: 20140251
    Release date: 13 July 2015

    Promoter – Financial Intermediary

    Parkwind, Sumitomo Corp, Zeewind I BV

    Location

    Description

    Construction of the second phase (165 MW) of an offshore windfarm (phases1 2: 336MW) located 46km from the Belgian coast

    Objectives

    The development of offshore wind energy will support EU and national targets for renewable energy generation and contribute to security of energy supply and environmental objectives. The project is therefore eligible under Article 309 point (c) common interest (energy/renewable energy). The project will further contribute to the Bank's priority objectives for energy sector lending related to renewable energy and climate action (transversal).

    Comments

    Sector(s)

    • Energy - Electricity, gas, steam and air conditioning supply

    Proposed EIB finance (Approximate amount)

    EUR 250 million

    Total cost (Approximate amount)

    EUR 653 million

    Environmental aspects

    By virtue of its technical characteristics the entire offshore wind farm (phases 1&2, 336 MW) would fall under Annex II of Environmental Impact Assessment (EIA) Directive 2011/92/EU (as amended by Directive 2014/52/EU). According to national law the project is subject to a mandatory EIA, which was undertaken. Following rounds of public consultation and expert advice, the competent authority has approved the EIA and granted a general, conditional construction and operating permit. With adequate precautionary measures, the impacts on fauna and flora, including on local and migrating birds, marine mammals, benthos and invertebrates were considered acceptable.

    Procurement

    A concession for the development of the entire wind farm was granted by the government, awarded on the basis of objective, proportionate and non-discriminatory criteria according to national legislation. Thus, the project does not enjoy special or exclusive rights and therefore does not have to follow the provisions of the Utilities Directive. The project will be delivered on a multi-contract basis, which is a common approach for offshore wind farms.

    Status

    Signed - 21/10/2015

    Disclaimer

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

    Related tags

    Belgium Energy