European Investment Bank loans Elia €1 billion for Princess Elisabeth energy island

Elia SA

07/09/2026 15:30

BRUSSELS, Sept 7 (Reuters) - Belgian electricity transmission grid operator Elia ELI.BR has secured a €1 billion ($1.2 billion) credit facility from the European Investment Bank for its Princess Elisabeth island energy project in the North Sea, the organisations jointly confirmed on Monday.
The artificial island, which will be located 45 kilometres off the Belgian coast, is a flagship project for Elia and will serve as a large piece of offshore electricity grid infrastructure, connecting future offshore wind farms to the Belgian power grid.
The EIB said the €1 billion loan was the largest it had ever made for an energy infrastructure project in the Benelux region.
"The Princess Elisabeth Island is a strategic project that will help unlock the next generation of offshore wind capacity, strengthen energy security and support Europe's competitiveness," said Elia Transmission Belgium's CEO Frédéric Dunon in a statement.
"The support of the European Investment Bank is a strong endorsement of the project's long-term value and of the shared ambition to build a more sustainable, resilient and affordable energy system for Belgium and Europe," added Dunon.
Elia reported higher first-half revenues in July and reiterated its full-year profit outlook. 
($1 = 0.8614 euros)

 (Reporting by Sudip Kar-Gupta;
Editing by Kate Abnett)
 ((sudip.kargupta@thomsonreuters.com;))