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    Soltage and Harrison Street form partnership to fund US renewable assets

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    GE Secures 2nd Wind Farm Project in Binh Thuan Province of Vietnam

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    China dominates global wind power industry in 2020

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    Vestas wins order for 56 MW wind turbines in Poland

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    EDP signs a Build & Transfer Agreement for a 200 MWac solar project in the U.S.

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    Stanwell signs up to Vast Solar’s Mt Isa Concentrated Solar Power project

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    Berlin to make solar panels mandatory for new buildings from 2023

    Xcel Energy - Colorado plans to deliver 80% renewable energy by 2030

    Xcel Energy – Colorado plans to deliver 80% renewable energy by 2030

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    POWERGEN, DTECH moving live events to January 2022 in Dallas

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    Array Technologies increased revenue 35% to US$872.7 million in 2020

    Array Technologies increased revenue 35% to US$872.7 million in 2020

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    Nordex Group: half-year sales rise to EUR 2 billion, earnings impacted by COVID-19

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    GE Renewable Energy connects the world’s most powerful hydro unit to the grid in Wudongde, China

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    Intersolar, EES and Power2drive NA Acquired by Diversified Communications

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    SeaMade secures €250m European loan for Belgian offshore wind farms

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    DOE Awards EPRI $2 Million to Investigate Co-Adoption of Solar, Energy Storage & Electric Vehicles

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    JA Solar Awarded with Top Brand PV Module for the European Market from EuPD Research

    EIB Co-Finances Construction of 450 MW Offshore Wind Farm in France

    EIB Co-Finances Construction of 450 MW Offshore Wind Farm in France

    Acciona and Korea Zinc to build MacIntyre wind farm in Queensland, Australia

    Acciona and Korea Zinc to build MacIntyre wind farm in Queensland, Australia

    DEME Offshore and Sabca test drones for O&M and critical operations at a wind farm in the North Sea

    DEME Offshore and Sabca test drones for O&M and critical operations at a wind farm in the North Sea

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    UK announces $132m investment in offshore wind ports

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    LONGi Hi-MO 5 series module receives Carbon Footprint Certification from Certisolis, accelerating the entry into the French solar market

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    Soltage and Harrison Street form partnership to fund US renewable assets

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    GE Secures 2nd Wind Farm Project in Binh Thuan Province of Vietnam

    China dominates global wind power industry in 2020

    China dominates global wind power industry in 2020

    Vestas wins order for 56 MW wind turbines in Poland

    Vestas wins order for 56 MW wind turbines in Poland

    EDP signs a Build & Transfer Agreement for a 200 MWac solar project in the U.S.

    EDP signs a Build & Transfer Agreement for a 200 MWac solar project in the U.S.

    Stanwell signs up to Vast Solar's Mt Isa Concentrated Solar Power project

    Stanwell signs up to Vast Solar’s Mt Isa Concentrated Solar Power project

    Berlin to make solar panels mandatory for new buildings from 2023

    Berlin to make solar panels mandatory for new buildings from 2023

    Xcel Energy - Colorado plans to deliver 80% renewable energy by 2030

    Xcel Energy – Colorado plans to deliver 80% renewable energy by 2030

    POWERGEN, DTECH moving live events to January 2022 in Dallas

    POWERGEN, DTECH moving live events to January 2022 in Dallas

  • Market Moves
    Array Technologies increased revenue 35% to US$872.7 million in 2020

    Array Technologies increased revenue 35% to US$872.7 million in 2020

    Nordex Group: half-year sales rise to EUR 2 billion, earnings impacted by COVID-19

    Nordex Group: half-year sales rise to EUR 2 billion, earnings impacted by COVID-19

    GE Renewable Energy connects the world's most powerful hydro unit to the grid in Wudongde, China

    GE Renewable Energy connects the world’s most powerful hydro unit to the grid in Wudongde, China

    Ferroglobe Hydro power

    Ferroglobe completes sale of Spanish hydro facilities to TPG Sixth Street Partners

    Intersolar, EES and Power2drive NA Acquired by Diversified Communications

    Intersolar, EES and Power2drive NA Acquired by Diversified Communications

    Summit Energy Services Announces Merger with Schneider Energy Consulting

    SeaMade secures €250m European loan for Belgian offshore wind farms

    SeaMade secures €250m European loan for Belgian offshore wind farms

    Xcel Energy agrees to buy Mankato Energy Center for $650m

    UK renewable energy overtakes fossil fuels, despite Brexit fears

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    DOE Awards EPRI $2 Million to Investigate Co-Adoption of Solar, Energy Storage & Electric Vehicles

    DOE Awards EPRI $2 Million to Investigate Co-Adoption of Solar, Energy Storage & Electric Vehicles

    JA Solar Awarded with Top Brand PV Module for the European Market from EuPD Research

    JA Solar Awarded with Top Brand PV Module for the European Market from EuPD Research

    EIB Co-Finances Construction of 450 MW Offshore Wind Farm in France

    EIB Co-Finances Construction of 450 MW Offshore Wind Farm in France

    Acciona and Korea Zinc to build MacIntyre wind farm in Queensland, Australia

    Acciona and Korea Zinc to build MacIntyre wind farm in Queensland, Australia

    DEME Offshore and Sabca test drones for O&M and critical operations at a wind farm in the North Sea

    DEME Offshore and Sabca test drones for O&M and critical operations at a wind farm in the North Sea

    UK announces $132m investment in offshore wind ports

    UK announces $132m investment in offshore wind ports

    China installed 48.2 GW of new solar capacity in 2020

    Solar Energy Group to build 150 MW photovoltaic plant in Kosovo

    China's CEIC, China Reform set up $1.55 bln new energy fund

    First Solar secures solar modules supply contract from Intersect Power

    LONGi Hi-MO 5 series module receives Carbon Footprint Certification from Certisolis, accelerating the entry into the French solar market

    LONGi Hi-MO 5 series module receives Carbon Footprint Certification from Certisolis, accelerating the entry into the French solar market

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Home Press Statements

EIB Co-Finances Construction of 450 MW Offshore Wind Farm in France

in Press Statements, Wind Energy
EIB Co-Finances Construction of 450 MW Offshore Wind Farm in France

EIB has granted a EUR 350 mn credit line to a consortium of EDF-R, Enbridge & wpd to co-finance construction of an offshore wind farm in France

The European Investment Bank (EIB) has granted a EUR 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. This financing will be guaranteed by the European Fund for Strategic Investments, the central pillar of the Investment Plan for Europe.

Totalling an estimated EUR 2 billion, the project involves the construction 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 percent of the population of Calvados. It is expected to enter service in 2024.

“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.”

Construction is expected to last three and a half years and will create over 1,000 direct jobs in Normandy, particularly in Le Havre where the wind turbines will be manufactured and assembled in a Siemens Gemesa factory currently being built.

The EU bank has recognised expertise in financing offshore wind farms. In 2020, the EIB co-financed France’s largest offshore wind farm project off the coast of Fécamp (also in Normandy) in a consortium of the same organisations. This financing is also guaranteed by the European Fund for Strategic Investments.

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.”

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