The Flemish government has finally approved a business plan for the Flemish Energy Company (VEB). The Flemish government was authorised to establish the VEB by a decree of 15 July 2011, but the company was not yet operational. The initial capital has been set at EUR 200 million.
The purpose of the VEB is to invest in innovative technologies. It will serve as a catalyst between researchers and the market. In addition, it will help the government make public buildings more energy efficient, through the third-party payer principle.
The VEB will also be the central energy supplier to the Flemish government, in order to bring down energy costs.