Smoke from timing belt shroud

[MinskyBA]

99 Jetta Wolfsburg, mk3, 4cyl.
I drove 450 miles no problem, the next day about 10 min into a drive i started getting smoke from the engine bay. Specifically it was coming out the top of the shroud that covers the timing belt fairly thick. I shut it off and let it cool a bit. When i turned it back on there was minimal smoke, didn't let it run though. The next day i turned it on for a few min and no smoke.
It has leaked anti freeze for a while but I've been topping it off.
The water pump doesn't seem to be the issue but that's a guess.
It's never over heated, including when it was smoking.
It squeals just a little on start, but runs very smoothly.
I have not yet run it without the shroud, couldn't reach the lower clips.

Any thoughts on what it could be? Help!

[96GolfGL]

You should pop off the timing belt cover - a pulley probably seized and the belt is probably running around it generating the smoke. Is there a rubbery smell coming from the engine? You're probably due for another timing belt anyways, the service interval for it is between 40k-60k. ABAs are bulletproof, which is probably why its still running smoothly!!!

[mcrow]

What does the smoke smell like? Timing belt interval is 90k miles, not 40-60.

[markbad311]

I had this exact issue. It was the Timing Belt tensioner. Froze up, smoked the belt.

If your belt has a "Peak" of rubber on the flat side of the belt, it is def. the tensioner.