Has the Belgian princess returned?
Overview of key proposed changes for the 700 MW Princess Elisabeth Zone I auction.
Belgium’s Princess Elisabeth Zone (PEZ) auctions are set to be the country’s largest offshore wind expansion with 3.5 GW across three lots.
The first 700 MW Lot with was originally planned to relaunch by end of Q1 2026, after having been cancelled in summer 2025, but this has been further delayed due to multiple regulatory unclarities, pending onshore grid connection permits, and unclear timing of further auctions.
Now, end of April, Belgium has opened a public hearing on amendments to the royal decree governing the Princess Elisabeth Zone I tender, with multiple proposed amendments:
Improved revenue mechanics and award framework
While the support budget and final timeline are not specified, the proposal does include some improvements which includes rebalancing the 2-sided capability CfD revenue mechanics, a more simplified award framework and a better construction timeline.
EU compliance
The proposal is set to implement the mandatory Net-Zero Industry Act (NZIA), focusing on resilience, lifecycle assessment, and cyber requirements.
Award timeline
The proposed amendments clearly indicate that award will slip into 2027.
Aegir Insights’ clients can get a detailed overview and assessment of these key proposed changes for Belgium's 700 MW Princess Elisabeth Zone I auction framework in our new report.
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