Sumitomo acquires stake in Engie-led 992MW French offshore wind projects
Japanese trading company Sumitomo Corp is purchasing a 29.5% stake in the development of a 992MW offshore wind project in France.
The project is set to consist of two 496MW wind parks located at Yeu-Noirmoutier and Dieppe-Le Treport. The facilities will be developed by Eolionned en mer desIles d’Yeu et de Noirmoutier (EMYN); a purpose vehicle owned by ENGIE; EDP Renovaveis; and La Banque des Terriroires, a part of French Bank Caisse des Depots (CDC).
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In addition to Sumitomo’s stake, ENGIE owns 31%, EDPR owns 29.5% and La Banque des Territories owns 10%.
Sumitomo Corporation has business across 66 countries and regions, with 131 office locations throughout the world, and serves over 100,000 clients. It works across metal products, infrastructure, media, real estate and resources with a particular interest in sustainable energy.
The wind farms are set to be commissioned in 2021, and will consist of 62 8MW turbines, which will be supplied by Siemens Gamesa. In total, 1,900GWh is expected to be generated annually as a result of the project, which in total is set to cost $2.28bn.