Belgium

Belgium

Introduces State aid to support renewable offshore wind energy

25 Nov 2024

On 13 September 2024, the European Commission approved a €682 million State aid scheme by Belgium to support the construction and operation of a 700 MW offshore wind farm in the Princess Elisabeth Zone of the North Sea. The aid will be provided through a competitive bidding process and granted as a 20-year variable premium under a two-way contract for difference (CfD), linking payments to market electricity prices. The scheme is in line with the European Union’s Green Deal Industrial Plan and the transition to a net-zero economy, aiming to reduce dependency on fossil fuels. The tender was launched on 25 November 2024.

Nature of measure:
  • Incentives
Type:
  • Promotion and facilitation (Investment incentives)
Industry:
  • Services (Electricity, gas, steam and air conditioning supply)
Inward FDI:
No
Outward FDI:
No
Sources: