Our roadmap for a strong Belgian offshore wind sector

Given the conflict in the Middle East and the tension surrounding the supply of oil and gas, it is clear that we need to shift our focus to energy we can control. When we commit to homegrown electricity, we’re guarding ourselves against political turmoil, and we’re protecting our citizens from costly inflation. More investment in offshore wind is a ‘no-regret’ solution for Belgium: it is local, safe, sustainable and cost-effective.

Belgian offshore wind power is key, today and tomorrow

When we invest in offshore wind power, we bolster the security of our energy supply, and we reduce our reliance on imports of fossil fuels. We bring our spend on electricity to a minimum. We boost our economy. And we take major strides forward toward a greener power system, so we can achieve our climate objectives. Offshore wind is extremely cost-effective: just one new offshore wind turbine can supply 16,000 households with power, all while being cheaper than the construction of a new fossil fuel power plant.

Unfortunately, several investment risks are hampering that further rollout. We are faced with inflated costs due to the war in Ukraine and the energy crisis that followed in its wake, the rising cost of capital, uncertainty around electrification and insufficient clarity when it comes to future electricity demand. The auction framework we are using is risky, the commercial feasibility of projects is shrinking before our eyers, and confidence among investors is falling at the same time as financial pressures are rising.

“Europe is lagging behind. The original objective was for Europe to have access to 120 GW of offshore wind capacity by 2030. As things stand, Europe has 37 GW, and is unlikely to reach any more than 70 GW by 2030. The obstacles in our way are clearly having an impact.”

Bérénice Crabs, Secretary-General at Belgian Offshore Platform

The solution: minimise the risk involved in investing

In order to foster strong Belgian offshore wind production and realise the necessary offshore wind capacity, we need to mitigate the risks involved in investing. We can do so through two-way contract for difference auctions, by spreading commissioning dates more equally, by removing the obstacles to electrification as much as possible, and through cost-effective offshore and onshore grids.

Contracts for difference (CfDs)

Contracts for difference (CfDs) give investors more certainty about their returns, even as market prices fluctuate. That way, they benefit from lower financing costs and fewer risks. At the North Sea Summit in Hamburg in early 2026, nine European countries agreed to develop 300 GW of offshore wind capacity by 2050. To achieve this, governments will have to commit to generating tenders backed by two-way Contracts for Difference (CfD). Only then will investment risks be limited, thanks to a guaranteed price for electricity, and will developers be able to develop farms productively.

Consistent commissioning dates

Spreading the commissioning of this 100 GW more equally will create more predictability on the market. For that reason, we are making the case for rolling out an extra 10 GW of wind capacity every year, with cross-border planning and plenty of flexibility when it comes to the exact commissioning dates. Doing so will facilitate better cooperation between countries and more efficiency in the supply chain, all while leaving plenty of scope for investment.

Remove the obstacles to electrification

The electrification of the Belgian industrial sector will cause a significant increase in power consumption. If we remove the obstacles to electrification, the industrial sector will find it much easier to make the switch from fossil fuels to electricity. Constructive partnerships between energy producers, governments and businesses bolstered by tripartite contracts will play a major role in this.

More cost effective offshore and onshore grids

Through smart investment in power grids, both on land an at sea, Belgium will be able to develop more wind power at the lowest possible cost to the Belgian public. As things stand, offshore wind offers one of the lowest prices per unit of electricity produced (LCOE, or levelised cost of electricity). In other words, if we wish to bring down the price the Belgian consumer pays for electricity as far as possible, we need to fully commit to this source of energy.

Conclusion: fewer obstacles, more Belgian offshore wind capacity

Investing in a robust Belgian offshore wind sector is essential if we want to deliver ample and affordable electricity. By reducing the risks and obstacles we currently face to a minimum, we can create a favourable climate for investment that will encourage our government, electricity suppliers, investment firms and banks alike to realise extra offshore wind capacity.

As such, we urge the government to reissue and launch the tender for the first plot of the Princess Elisabeth Zone as soon as possible, preferably before the first half of 2026 comes to an end. Here at BOP, this is something we’re proud to throw our weight behind!

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