EDF and partners secure EIB aid for €2bn French offshore wind farm

Image credit: EIB

French multinational energy company EDF Renewables and its partners Enbridge and wpd have secured financial aid from the European Investment Bank (EIB) to construct a €2 billion ($2.3 billion) offshore wind farm.

The EIB is providing the consortium with a €350 million ($413 million) credit line to co-finance the development of the Calvados offshore wind energy project.

The wind farm is being constructed off the coast of Courseulles-sur-Mer in France. Once complete in 2024, the 64 wind turbines with a capacity of 450MW will produce enough energy to power 630,000 people per annum.

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The project will create over 1à‚ 000 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. During the life of the wind farm, the project will enable the creation of around 100 long-term jobs at the port of Caen-Ouistreham for maintenance operations.

EIB vice-president, Ambroise Fayolle, said: “This second financing of an offshore wind farm in Normandy, France confirms that our transformation into the EU climate bank is picking up speed.

“This operation consolidates our expertise in fixed and floating offshore wind turbines, like other innovative projects that we are financing elsewhere in Europe.” 

In 2020, the EIB, EDF Renewables, Enbridge and wpd co-financed France’s largest offshore wind farm project off the coast of Fécamp.

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