The project, which secured €460m in financing, is being developed by Sumitomo Corporation Europe, Belgian Parkwind and Dutch Meewind.
Located in the North Sea, around 45km to the north of the Belgian coast in water depths of approximately 30m, the €655m project is likely to meet energy requirements of around 186,000 households.
European Investment Bank (EIB) has approved a loan of €250m for the project, which will meet almost 38% of its cost.
EIB vice-president Pim van Ballekom said: "Since 2009 the EIB has invested more than EUR1bn in wind energy projects in Belgium to ensure a safe, affordable and diversified supply for a large portion of the Belgian population.
"Fighting climate change is a long-term goal for the EIB and we hope to see more projects like this one in Belgium in the coming years."
Planned to be completed by the end of 2017, the project will feature 50 MHI Vestas-built 3.3MW wind turbine generators from and is expected to be operational for 20 years.
Power generated from the project will be sold to a Belgian utility under a long-term power purchase agreement.
Sumitomo said: "The project marks the first time a Japanese corporation has joined an off-shore wind farm project company in Europe at the early development stage.
"By leveraging the experience and know-how gained through the Project, Sumitomo aims to continue development of off-shore wind farms in Europe and contribute to global sustainability."
