Belgium's Northwester 2 Wind Project Gets $242 mln EIB Loan
Belgium's 219 megawatt (MW) Northwester 2 offshore wind farm project secured a 210 million euro ($242 million) loan from the European Investment Bank (EIB), the bank said on Friday.
EIB said the project, estimated to cost around 642 million euros, was among four Belgian offshore wind projects it would support with the European Fund for Strategic Investments.
It said another 100 million euros for the project would be guaranteed by Denmark's Export Credit Agency EKF.
Construction is expected to start in May 2019 and the farm will become operational in 2020.
The 23 MHI Vestas wind turbines with a capacity of 9.5 MW each, will generate an estimated 219 MW of power, enough to supply electricity to around 220,000 Belgian homes, EIB said in the statement.
Northwester 2 is backed by partners Parkwind which holds 46 percent, Belgian retailer Colruyt 30 percent, Incontrol with 14 percent and TTR with 10 percent, according to the project's website.
Writing by Bate Felix