EC nods to EUR-682m offshore wind support scheme in Belgium

Belgium has received the approval of the European Commission (EC) for a EUR-682-million (USD 755.6m) state aid measure that will enable the construction and operation of a 700-MW wind farm in an offshore wind zone in the North Sea.

The plan envisages holding a competitive tender to award the rights to install the offshore park within the Princess Elisabeth Zone, the EC said on Friday.

The aid will be awarded as a monthly variable premium under a two-way contract for difference (CfD) over 20 years. The winning bid in the solicitation will determine the strike price forming the basis of the CfD.

The state aid scheme was approved under the State aid Temporary Crisis and Transition Framework (TCTF). According to the Commission, the proposed measure is “necessary, appropriate and proportionate” to speed up the green energy transition and will help promote the development of certain economic activities aligned with the Green Deal Industrial Plan.

The Princess Elisabeth zone consists of three separate areas with a total potential capacity of 3.5 GW. The first 700-MW plant to be installed will be able to generate at least 2.6 TWh of electricity annually, helping the country cut its reliance on Russian fossil fuels.

(EUR 1.0 = USD 1.108)

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