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This article has been translated by Artificial Intelligence (AI). The news agency is not responsible for the content of the translated article. The original was published by Belga.

European Commission approves Belgian auction process for new offshore wind turbines

by AI | 13.Sep 2024 | Europe in brief AI

The European Commission has approved the Belgian support mechanism for the new wind farms to be built off the coast soon. The first auction for the construction starts on October 28.

An offshore wind farm in the North Sea (Photo: Ole Berg-Rusten/NTB/dpa)

The European Commission gave the green light on Friday for the state support mechanism of 682 million euros. This has paved the way for the auction of a first wind farm of 700 megawatts (MW) in the Princess Elisabeth zone. This is the area in the North Sea where the new wind farms will be built.

That auction process starts on October 28, according to resigning Minister of Energy Tinne Van der Straeten (Groen). Specifically, wind farm developers will be able to bid during an auction. A maximum price of 95 euros per megawatt-hour (MWh) applies. At lower electricity prices on the market, the government will make up the difference so that operators have a guaranteed price. At higher prices, the developer pays back the difference. Those who are satisfied with a lower price score better points at the auction.

In a recent auction in the United Kingdom, the auction was won at a price between 65 and 70 euros