EU clears €2.04bn support scheme for Belgian OWP

Baku, November 12, AZERTACThe European Commission has approved a €2. 04 billion Belgian state aid package to support the development of the first offshore wind farm in the Princess Elisabeth Zone in the North Sea, according to Ocean Energy Resources. The project, which will have a capacity of up to 735 MW, is expected to generate approximately 2. 6 TWh of renewable electricity annually, contributing to Belgium’s offshore wind expansion and Europe’s efforts to reduce dependence on imported energy. The 20-year support programme falls under the EU’s Clean Industrial Deal State Aid Framework (CISAF), introduced in June 2025.

It replaces an earlier scheme approved in 2024, for which no funding was awarded before the December 2025 deadline. Financial support will be allocated through a competitive tender, with the outcome expected in the fourth quarter of 2027. The selection process will incorporate supply chain diversification requirements under the EU’s Net Zero Industry Act, aimed at reducing reliance on non-European suppliers of wind turbines and key components. The scheme will operate through a two-way Contract for Difference (CfD), providing developers with revenue stability while limiting excessive returns. Operators will receive compensation when electricity market prices fall below the agreed strike price and repay the difference when prices rise above that level. Payments will be calculated based on potential rather than actual electricity…