Global law firm Clifford Chance has advised Elia Transmission Belgium on a €1 billion green credit facility provided by the European Investment Bank (EIB) in connection with the Princess Elisabeth Island project, a pioneering offshore energy infrastructure project in the North Sea.
The financing will support the second phase of the Princess Elisabeth Energy Island, which will serve as an offshore energy hub connecting existing and future offshore wind capacity to the Belgian grid while facilitating greater integration of the European electricity market and supporting future cross-border interconnections.
The €1 billion facility represents the largest financing granted by the EIB to an energy infrastructure project in the Benelux region and builds on the EIB’s previous support for the project.
The financing agreement was formally signed during an official ceremony held in Ostend, attended by representatives of Elia, the EIB and other stakeholders.
The Clifford Chance team advising Elia Transmission Belgium was led by Senior Counsel Wim Aerts assisted by Associate Magaly El-Hallal.
This transaction further highlights Clifford Chance’s leading role in advising on complex and strategic energy and infrastructure financing projects supporting the energy transition across Europe.
Press contact: Marion Meunier
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