Belgium has informed the European Commission about a €682 million support scheme under the Temporary Crisis and Transition Framework (TCTF) aimed at boosting offshore wind energy. This initiative will fund the construction and operation of the project which has a capacity of 700 MW and an expected annual generation of 2.6 TWh of renewable electricity.
The project will be the country’s first offshore wind farm in the Princess Elisabeth Zone of the North Sea. Furthermore, the aid will be granted through a competitive bidding process and will take the form of a 20-year contract for difference (CfD), offering a variable monthly premium. The premium will be based on potential, not actual, electricity production, ensuring that revenues reflect market prices.
The Temporary Crisis and Transition Framework under which the aid has been granted was adopted in 2023 to encourage supportive initiatives in sectors crucial for the shift to a net-zero economy, in alignment with the Green Deal Industrial Plan.
