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    Reference: 20150619
    Release date: 14 December 2015

    Promoter – Financial Intermediary

    Otary NV



    The project involves the design, construction, operation and maintenance of an offshore wind farm of 294 MW, located in the North Sea, 42 km from Ostend harbour, in the Exclusive Economic Zone (EEZ) of Belgium.


    The development of offshore wind energy will support EU and national targets for renewable energy generation, and contributes to security of energy supply and environmental objectives. The project will further contribute to the Bank's priority objectives for energy-sector lending related to renewable energy sources and climate action (transversal).


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

    Proposed EIB finance (Approximate amount)

    EUR 300 million

    Total cost (Approximate amount)

    EUR 1129 million

    Environmental aspects

    By virtue of its technical characteristics the project would fall under Annex II of the Environmental Impact Assessment (EIA) Directive (2011/92/EU, amended 2014/52/EU), where the national authorities have to decide whether an EIA is needed. In this case a full environmental impact assessment was carried out and the environmental permit was granted in 2014. Details of the authorisation process and its compliance with the relevant EU directives, as applicable, will also be assessed during appraisal.


    The bank will verify at appraisal whether the promoter is subject to EU rules on public procurement.


    Signed - 3/10/2016


    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