EIB mulls loan to 25-MW floating wind project in France

Floatgen. Source: Twitter, @IdeolOffshore

April 12 (Renewables Now) - French green power producer Quadran Energies Marines is seeking a EUR-50-million (USD 56.4m) loan from the European Investment Bank (EIB) to support a 25-MW floating offshore wind farm in France

The Eolmed project is one of four demonstration schemes that will receive government subsidies with the European Commission's recent blessing. The overall cost of the project is estimated at EUR 212 million, according to information released on EIB’s website on Thursday.

Quadran is leading the consortium behind the scheme, which includes compatriots Ideol and Bouygues Travaux Publics and German wind turbine maker Senvion (ETR:SEN). Their proposal is to install a four-turbine floating offshore wind farm off the coast of Port la Nouvelle in the Mediterranean Sea, near the southern province of Occitanie. Commissioning is expected to take place in 2020-2021.

The project loan has been under appraisal since March 21, 2019, according to the EIB's notice.

(EUR 1.0 = USD 1.129)

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Veselina Petrova is one of Renewables Now's most experienced green energy writers. For several years she has been keeping track of game-changing events both large and small projects and across the globe.

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