Introduces State aid to support renewable offshore wind energy

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.

• Type:

  • Promotion and facilitation (Investment incentives)

• Industry:

  • Not industry specific (SDG)
  • Services (Electricity, gas, steam and air conditioning supply)

• Sources:

  • Federal Public Service (FPS) Economy, SMEs, Self-Employed and Energy, Belgian offshore wind energy, https://economie.fgov.be/en/themes/energy/belgian-offshore-wind-energy, 26 Nov 2024
  • European Commission ec.europa.eu, Commission approves €682 million Belgian State aid scheme to support renewable offshore wind energy to foster the transition to a net-zero economy, https://ec.europa.eu/commission/presscorner/detail/en/ip_24_4567, 13 Sep 2024