Belgium’s high-voltage grid operator Elia Transmission Belgium has secured a €1 billion credit line from the European Investment Bank (EIB) to help finance the construction of the Princess Elisabeth Island in the North Sea.
Elia and the EIB announced the agreement on Monday.
The funding will support the development of Princess Elisabeth Island, an artificial energy island that Elia is building off the Belgian coast.
According to the EIB, it is the largest credit line the bank has ever granted to a single energy project.
