The European Investment Bank has awarded a $702 million grant to Elia Transmission Belgium for the construction of the world's first artificial energy island, Princess Elisabeth Island, located off the Belgian coast. This project, anticipated to be completed between 2024 and 2027, aims to integrate 3.5GW of offshore wind capacity into Belgium's electricity grid, benefiting more than three million households with green energy. Princess Elisabeth Island will serve as a key element in Belgium and Europe's energy transition, reducing the country's reliance on fossil fuels and aiding in reaching renewable energy goals. The innovative design of the island includes hybrid interconnectors, promoting biodiversity and supporting marine life, setting a benchmark for sustainable energy solutions. The island will not only enhance Belgium's energy security but also establish crucial connections with neighboring countries, facilitating regional cooperation and energy independence. By combining high-voltage direct current and alternating current infrastructure, the island will enable power exchanges with other European nations while connecting to offshore wind farms in the North Sea. This revolutionary project highlights Europe's commitment to renewable energy and climate action, showcasing a significant step towards a greener and more sustainable future.