Sumitomo joins French offshore wind projects of 992 MW

Japan’s Sumitomo Corp (TYO:8053) today said it is purchasing a 29.5% stake in the partnership developing a 992-MW offshore wind project at Yeu-Noirmoutier and Dieppe-Le Treport, off the French coast.

The project, consisting of two 496-MW wind parks, is being developed by Eoliennes en mer des Iles d’Yeu et de Noirmoutier (EMYN), a special purpose vehicle owned by Engie, EDP Renovaveis (ELI:EDPR) and la Banque des Territoires, part of French bank Caisse des depots (CDC). Following Sumitomo’s involvement, Engie will remain a majority owner with a 31% stake, while EDP Renovaveis and la Banque des Territoires will own 29.5% and 10%, respectively.

To be located off the Vendee islands of Yeu and Noirmoutier, the Noirmoutier and and Treport wind farms are expected to be commissioned in 2021, using 62 Siemens Gamesa turbines of 8 MW. The machines are seen to generate around 1,900 GWh of electricity per year, or as much as is needed to supply 790,000 people. The overall cost of the project is estimated at EUR 2 billion (USD 2.28bn).

The partners secured the right to install and operate the two offshore wind farms in a tender held in 2014.

(EUR 1.0 = USD 1.138)

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