Construction of the 224MW Northwester 2 windfarm is expected to be concluded by 2020.
To be situated off the territorial waters of Belgium, the development is a result of an agreement between Belgian authorities and the shareholders of the windfarm under a support scheme.
Belgium-based Parkwind currently holds a 46% stake in Northwester 2, while Colruyt owns 30%, Incontrol 14%, and TTR has a 10% share.
The agreement has enabled the developers of the farm to expedite activities and prepare for financial close by next year.
The project will allow the Belgian Government to add affordable offshore wind energy to the country’s future energy mix, and help realise European 20/20 Climate target commitments.
Upon completion, Northwester 2 will be able to power 220,000 Belgian homes and reduce around 500,000t of carbon emissions.
During construction, the project is expected to create more than 1,000 direct and indirect jobs, as well as provide around 100 long-term employment opportunities.