Wednesday 28 October 2015

EU bank lends €250m for 165MW Belgian wind farm

An offshore wind project in Belgium with a capacity of 165MW is receiving an investment worth €250 million (£180m).

The European Investment Bank (EIB) is providing the cash for the Nobelwind wind farm, located 45 kilometres off the Belgian coast.

It is expected to generate enough electricity to power around 186,000 households.

The total cost of the wind farm is €655 million (£471.6m) and construction is scheduled to start in April next year.

EIB Vice-President Pim van Ballekom said: “Since 2009 the EIB has invested more than €1 billion (£0.72bn) in wind energy projects in Belgium to ensure a safe, affordable and diversified supply for a large portion of the Belgian population. Fighting climate change is a long term goal for the EIB and we hope to see more projects like this one in Belgium in the coming years."