Ocean Winds, a joint venture between EDP Renewables and ENGIE, together with its partners has reached Final Investment Decision (FID) for Éoliennes en Mer Dieppe Le Tréport offshore wind farm in France.
The company’s project partners include Sumitomo Corporation, and French public sector financial institution Caisse des Dépôts et des Consignations.
Located 15km off the coast in the English Channel, the offshore wind farm project will have around 500MW capacity and represents a total investment of €2.7bn.
The project partners will begin construction work at the offshore wind farm project after securing nearly €2.4bn financing, with plans to complete it by the second half of 2026.
It will involve the construction and installation of 62 offshore wind turbines off the coast of Tréport and Dieppe cities.
The project is backed by a long-term power purchase agreement with a utility in France to serve around 850,000 people with electricity each year.
Ocean Winds chief operating officer Grzegorz Gorski said: “Securing financing for three offshore wind projects this month not only demonstrates our commitment to delivering clean energy and unlocking local opportunities but shows our solution-driven experience and leadership in the offshore wind energy sector.
“Despite the current global economic challenges, inflation and tension on the supply chain, we have renewed our commitment to the realisation of our projects securing financing, demonstrating the confidence that the financial markets hold in the strength of our projects and us as the delivery partner.”
In addition to the Dieppe Le Tréport project, Sumitomo, Ocean Winds, and Caisse des Dépôts et des Consignations are also jointly developing another offshore wind farm project in France.
The project, dubbed Éoliennes en Mer des Iles d’Yeu et de Noirmoutier offshore wind farm project, is located about 12km off the coast in the Bay of Biscay, France.
Earlier this month, the partners reached FID on the offshore wind project.
The Dieppe Le Tréport and the Iles d’Yeu et de Noirmoutier projects are expected to have a combined total production capacity of around 1GW, said Ocean Winds.
Last week, Ocean Winds and its partner Ignitis Group reached financial closing for Moray West offshore wind farm project after securing £2bn non-recourse project funding.
Moray West is a fully consented offshore wind project, located in the Moray Firth region, off the coast of Scotland, with an expected installed capacity of 882MW.
