The European Investment Bank (EIB) will loan €438m for the 370MW Norther wind farm off the Belgian coast.
The total cost of the project is estimated to be €1.1bn, of which the EIB would provide nearly 40%, it said.
Norther will consist of 44 MHI Vestas 8.4MW V164 turbines and is scheduled to be operational in summer 2019.
It is expected to generate 2530 person-years in employment during construction and create a further 16 full-time positions once operational, EIB said.
The bank said half of the money will be guaranteed under the European Fund for Strategic Investments, which is part of the Investment Plan for Europe that aims to mobilise an additional €315bn of investment in the EU over three years.
Norther is being developed by a joint venture of Eneco, Mitsubishi Corp subsidiary Diamond Generation Europe and Belgium energy company Elicio.
Image: MHI Vestas
