Weekly renewables M&A round-up (Jun 27-Jul 1)
Jul 01, 2022 17:05 CESTFID taken on 30-MW EolMed floating wind project in France
An MHI Vestas floating wind turbine. Source: BW Ideol.
May 6 (Renewables Now) - The partnership behind the 30-MW EolMed floating wind pilot project in the French Mediterranean has taken a final investment decision on the project, they announced on Thursday.
The tie-up comprises French floating wind technology developer BW Ideol (OSE:BWIDL), domestic renewable power producer Qair and energy group TotalEnergies SE (EPA:TTE). In their statement, they did not provide specific details about the project’s financing structure but said more information is due to be released on May 9.
The EolMed offshore wind farm is planned to be installed 15 km off Gruissan, a town on the western part of the French south coast. It will use three 10-MW turbines, to be provided by consortium member MHI Vestas. The demo plant is expected to be commissioned in 2023.
Qair is leading the project's development consortium and has been partnering with BW Ideol since 2016 and the early stages of winning a French government call for the project. TotalEnergies joined the scheme in 2020 by purchasing a 20% interest. At the end of last year, BW Ideol agreed to acquire a 5% stake.
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