The European Investment Bank (EIB) has granted Elia Transmission Belgium a credit facility of €1 billion on favourable terms for the Princess Elisabeth Energy Island. These favourable financing conditions help limit the project’s financing costs. The strategic energy project will unlock new Belgian offshore wind capacity and enable a future electricity interconnector with the United Kingdom. As well as bolstering Belgium's energy security, the energy island will strengthen the integration of the European electricity market, by serving as a focal point for existing and new offshore wind energy.