Belgium Receives $485M EIB Loan for Wallonia Grid Upgrade
Belgium will receive $485 million (€450 million) from the European Investment Bank (EIB) to modernise Wallonia’s electricity distribution network as the region accelerates its transition to renewable energy and electrification.
The funding marks the second major loan from the EIB to ORES, Wallonia’s main electricity and gas distribution operator, following a $592 million (€550 million) financing package signed in 2018. With this new loan, EIB support for Wallonia’s grid modernisation now totals approximately $1.08 billion (€1 billion).
The funds will finance ORES’ 2025–2027 investment programme, including construction of new substations, renewal of overhead lines, reinforcement of underground cables, deployment of smart meters, and grid automation to support renewable energy integration and electric mobility. Projects will be implemented across the provinces of Hainaut, Namur, Walloon Brabant, Luxembourg (BE), and Liège.
Belgium’s greenhouse gas emissions are declining but still need to accelerate to meet the 2050 climate neutrality target. The investments are intended to strengthen the electricity distribution network amid growing demand from electrification in households, businesses, and industry, as well as rising renewable energy production.
Fernand Grifnée, Chairman of the ORES Management Committee, described the loan as a “vote of confidence from the European Union” in the company’s strategy. Robert de Groot, EIB Vice-President, emphasised that modernising infrastructure is “essential for guaranteeing security of supply and access to affordable energy” during the ecological transition.
Source: review-energy.com
