Neutral
Informational - no clear directional impact
Low Impact
Minor progress or informational
On 10 June 2025, Elia Transmission Belgium confirmed it would not sign the previously negotiated HVDC converter contract for Princess Elisabeth Island, following a Belgian government decision to pursue an alternative concept for the energy hub's next phase at lower cost. The decision, driven by unprecedented global increases in HVDC infrastructure prices, formally ended the procurement process that had been suspended since February 2025. Belgian energy minister Mathieu Bihet gave Elia a mandate to develop an optimised configuration adapted to current market conditions, while reaffirming the strategic importance of both continued offshore wind development and a second interconnector with the UK. Elia CEO Frédéric Dunon confirmed discussions with UK partners would continue to find joint solutions for Nautilus. The Belgian government, CREG (energy regulator), FOD Economie, and UK authorities (Ofgem, NESO) will collaborate on the alternative concept. This requires an amendment to the ministerial decree on offshore grid design and a revision of the Federal Development Plan. Construction of the artificial island and HVAC connections for the first two wind farms (700 MW + 1,400 MW) continues on schedule, with the delay affecting only the HVDC-dependent third wind farm (1,400 MW) and the Nautilus interconnector. The overall project timeline is now expected to slip by approximately three years from the original 2032 target.