The 165MW project is a joint venture between Japan's Sumitomo Corporation and its subsidiary Sumitomo Corporation Europe, Belgian offshore wind developer Parkwind NV, and Dutch investment fund Meewind.
Located 45km off the coast of Belgium in water depths of approximately 30 meters, this is expected to cost around €655 million. European Investment Bank (EIB) has approved a loan of €250m for the project, accounting for almost 38% of the total cost.
Denmark’s Vestas Wind Systems has been granted the turbine supply order for a project off Belgium.
Vice-president of European Investment Bank, Pim van Ballekom said "Since 2009, the EIB has invested more than €1 billion 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."
"The project marks the first time a Japanese corporation has joined an offshore wind farm project company in Europe at the early development stage. By leveraging the experience and know-how gained through the project, Sumitomo aims to continue development of offshore wind farms in Europe and contribute to global sustainability," stated Sumitomo Corporation in a press release.
The construction of the offshore wind farm by the end of 2017 and it is expected to serve energy needs of around 186,000 Belgian households.