Elia Transmission Belgium ( ETB ) has secured a €650 million green credit line from the European Investment Bank ( EIB ) for the development of Princess Elizabeth Island, an unprecedented project in global energy infrastructure.
ETB and the EIB in the project Isla Princesa Isabel
The island is planned to operate some 45 kilometres off the Belgian coast in the North Sea and will be the first wind power transmission hub, enabling the integration of 3.5 GW of offshore wind capacity into the electricity grid of Belgium and other neighbouring countries.
The financial agreement between ETB and the EIB was signed on 25 October 2024 at a ceremony in Vlissingen, the Netherlands, attended by Belgian Energy Minister Tinne Van der Straeten and EIB Vice-President Robert de Groot, among other European leaders.
This financial support underlines the commitment of the EU institutions to support the energy transition and sustainability, priorities of the REPowerEU strategy and the European Recovery and Resilience Facility , from which the project receives an additional €100 million in support. ETB Interim Executive Director Catherine Vandenborre highlighted the importance of this funding to expand the renewable energy network and strengthen Europe’s energy infrastructure.
A hybrid infrastructure and interconnection model
The island will be a pioneer in the implementation of hybrid interconnectors, a technology that allows for the bidirectional transmission of energy between wind farms and the electrical grid, while optimizing the space and resources needed to establish these connections.
Hybrid interconnectors allow a single cabling system to serve a dual function: transmitting power from wind farms and serving as an energy link between countries. This design reduces the amount of offshore infrastructure required, minimizing environmental impact and operating costs.
In addition, the project incorporates high voltage direct current ( HVDC ) and alternating current ( HVAC ) transmission facilities, which guarantee greater efficiency in long-distance energy transmission and reduce energy losses. This advanced infrastructure will be installed on the island, centralizing the export of wind energy and positioning Belgium as a green energy hub in Europe.
Elia Transmission Belgium contributes to European well-being
Princess Elizabeth Island, designed to power more than 3 million homes with wind energy, plays a key role in the EU’s climate goals. By reducing Belgium’s dependence on fossil fuels and lowering the cost of renewable energy, the project directly contributes to the social and economic well-being of the region. Furthermore, the island promotes biodiversity by designing its facilities to blend into the marine environment, thus strengthening the commitment to sustainability.
EIB Vice-President Robert de Groot underlined the island’s role as a “vital building block” for Belgium’s and Europe’s energy security and self-sufficiency. Belgian Energy Minister Tinne Van der Straeten highlighted the project as an example of how collaboration between countries and investment in innovation can strengthen energy independence and promote a sound ecological transition across the region.
Princess Isabel Island, the world’s first artificially powered island. Source: Elia
With the support of ETB and the EIB , Princess Isabel Island will become the first artificial island dedicated exclusively to the generation and transmission of green energy. This project sets a precedent for future developments in renewable infrastructure and marks the beginning of a new era in the European energy transition.
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Source and photo: Elia Transmission Belgium
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