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EIB to Co-Finance Construction of French Offshore Wind Farm

The European Investment Bank (EIB) has granted a €350 million credit line to a consortium made up of EDF Renouvelables, Enbridge and wpd to co-finance the construction of a wind farm off the coast of Courseulles-sur-Mer in France, the bank has announced.

The project consists of 64 wind turbines located over 10 km off the French coast. With a capacity of 450 MW, it will produce the equivalent of the annual electricity use of 630 000 people, i.e. over 90% of the population of Calvados where it is located. It is expected to enter service in 2024. The project will cost an estimated €2 billion.

Construction is expected to last three and a half years and will create over 1000 direct jobs in Normandy, particularly in Le Havre where the wind turbines will be manufactured and assembled in a Siemens Gamesa factory currently being built.

The European Commissioner for the Economy, Paolo Gentiloni, said: “The Investment Plan for Europe is backing the construction of a new wind park in the west of France. The project will provide clean energy to some 630 000 people and create over 1 000 jobs in the process. This is another step towards achieving our goal of climate neutrality by 2050 and showcases the economic potential of going green.”

“This second financing of an offshore wind farm in Normandy, France confirms that our transformation into the EU climate bank is picking up speed,” said EIB Vice-President Ambroise Fayolle. “This operation consolidates our expertise in fixed and floating offshore wind turbines, like other innovative projects that we are financing elsewhere in Europe.” 

Windfair Editors
EIB, France, offshore, wind farm, financing, construction, Calvados, electricity, consortium, Europe

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