SEAMADE NV-MERMAID & SEASTAR OFFSHORE WIND FARMS (EIB-20170917)

Countries
  • Belgium
Where the impacts of the investment may be experienced.
Financial Institutions
  • European Investment Bank (EIB)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Approved
Bank Risk Rating
U
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Jul 17, 2018
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
ELECTRABEL SA, OTARY RS, ENECO WIND BELGIUM SA
The holder of the loan, grant, or other investment.
Sectors
  • Energy
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
Not Disclosed
When disclosed, the bank did not provide this value. Please review updated project documents for more information.
Primary Source

Original disclosure @ EIB website

Updated in EWS Sep 11, 2018

Disclosed by Bank Aug 3, 2018


Contribute Information
Can you contribute information about this project?
Contact the EWS Team

Project Description

According to EIB website, the project comprises the construction of two offshore wind farms about 38 and 50 km off the Belgian coast, with a total installed power of up to 488 MW depending on the final design, and associated ancillary facilities, including inter-array cables, an offshore substation and export cable to connect to an offshore connection point to the national Belgian grid. Further, it will support EU and national targets for renewable energy generation, and contributes to the security of energy supply and environmental objectives. The project will further contribute to the Bank's transversal priority objectives for energy-sector lending related to renewable energy sources and climate action. 

Investment Description
  • European Investment Bank (EIB)
Private Actors

Electrabel S.A. produces and supplies electricity and natural gas. It operates thermal power stations fueled by natural gas; nuclear power plants; and renewable energy plants, including wind, biomass, hydroelectric, and photovoltaic plants. Additionally, it offer services including installation of insulators, maintenance of boilers, restoring heat, replacement of boilers, and installation of boilers.

Otary RS SA constructs and manages wind farm projects. The Company operates in Belgium.

Eneco Wind Belgium S.A. develops and operates power generation facilities based on renewable energy sources and wind energy in Belgium. Its activities include technical layout studies, energy potential assessment, economic feasibility studies, and financing structuring.

 

Contact Information

No contact information provided at the time of disclosure. 

ACCOUNTABILITY MECHANISM OF EIB

The EIB Complaints Mechanism is designed to facilitate and handle complaints against the EIB by individuals, organizations or corporations affected by EIB activities. When exercising the right to lodge a complaint against the EIB, any member of the public has access to a two-tier procedure, one internal - the Complaints Mechanism Office - and one external - the European Ombudsman. A complaint can be lodged via a written communication addressed to the Secretary General of the EIB, via email to the dedicated email address complaints@eib.org, by completing the online complaint form available at the following address: http://www.eib.org/complaints/form, via fax or delivered directly to the EIB Complaints Mechanism Division, any EIB local representation office or any EIB staff. For further details, check: http://www.eib.org/attachments/strategies/complaints_mechanism_policy_en.pdf

When dissatisfied with a complaint to the EIB Complaints Mechanism, citizens can then turn towards the European Ombudsman. A memorandum of Understanding has been signed between the EIB and the European Ombudsman establishes that citizens (even outside of the EU if the Ombudsman finds their complaint justified) can turn towards the Ombudsman on issues related to 'maladministration' by the EIB. Note that before going to the Ombudsman, an attempt must be made to resolve the case by contacting the EIB. In addition, the complaint must be made within two years of the date when the facts on which your complaint is based became known to you. You can write to the Ombudsman in any of the languages of the European Union. Additional details, including filing requirements and complaint forms, are available at: http://www.ombudsman.europa.eu/atyourservice/interactiveguide.faces