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RENEWABLES: EC Approves €682mn For Belgian Offshore Wind

RENEWABLES
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The European Commission has approved €683mn of support for Belgium’s offshore wind sector on Friday, it said. 

  • The support was approved under the State Aid Temporary Crisis and Transition Framework (TCFT).
  • The funds will support the construction and operation of the first offshore wind farm in the Princess Elisabeth Zone in the North Sea that is expected to have a capacity of 700MW.
  • The aid will take the form of a monthly variable premium under a two-way CfD over the period of 20 years for the potential power production of the wind farm.
  • Belgium’s CREG will calculate the price premium by comparing the strike price of the tender offer to a reference market power price. 
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The European Commission has approved €683mn of support for Belgium’s offshore wind sector on Friday, it said. 

  • The support was approved under the State Aid Temporary Crisis and Transition Framework (TCFT).
  • The funds will support the construction and operation of the first offshore wind farm in the Princess Elisabeth Zone in the North Sea that is expected to have a capacity of 700MW.
  • The aid will take the form of a monthly variable premium under a two-way CfD over the period of 20 years for the potential power production of the wind farm.
  • Belgium’s CREG will calculate the price premium by comparing the strike price of the tender offer to a reference market power price.