Enbridge divests 49% of French offshore wind stakes
Enbridge and CPP Investments executed agreements whereby 49% of Enbridge's 50% interest in Éolien Maritime France SAS (EMF) will be sold to CPP Investments in return for a payment which will include a project promote as well as 49% of all development capital spent by Enbridge since inception to the date of close. The total payment at close is anticipated to exceed US$100 million. Post-closing, CPP Investments will contribute its pro-rata 49% share of all ongoing future development capital.
Completion of the transaction is subject to customary regulatory approvals and is anticipated to close in the fourth quarter of 2020. After the transaction closes, through the company's investment in EMF, Enbridge will own equity interests in three French offshore wind projects, including, Saint Nazaire (25.5%), Fecamp (17.9%), and Courseulles (21.7%).
In 2019, the Saint Nazaire offshore wind project reached a positive final investment decision while the remaining projects are expected to reach a final investment decision by next year.
The Fecamp offshore wind farm has a projected capacity of 498 MW. It will be powered by SWT-7.0-154 DD wind turbines. The 88 turbines at Fecamp will use gravity-based foundations, while the other two sites employ monopole foundations.
The Courseulles-sur-Mer offshore wind project will be composed of 75 GE Haliade 150-6 MW turbines. The new facility is developed on an area of 50 km2, some 10 km off the coast of Normandy.
The Saint-Nazaire offshore wind power plant consists of 80 Offshore Wind Turbines supplied by General Electric (GE), installed on top of monopile foundations. The 6 MW turbines are installed at between 12 and 20 km off the coast of the Guerande peninsula in western France.
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March 09, 2020
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Iberdrola has increased its presence in the offshore wind industry, following the conclusion of an agreement to take 100% ownership of Ailes Marines. The company is developing, constructing and operating the 496 MW Saint-Brieuc offshore wind farm in France.
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October 23, 2019
Siemens Gamesa acquires 8.9GW of assets of Senvion Group
Siemens Gamesa Renewable Energy has reached an agreement to acquire selected European assets of Senvion Group for EUR200 million (US$223 million).
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August 21, 2019
Permits approved for 948 MW offshore wind in France
EDF renewables, a subsidiary of the EDF Group, and its partners Enbridge, a North American energy infrastructure company, and German independent renewable energy provider WPD, will continue to develop the Fécamp and Courseulles offshore wind projects in France after the Conseil d’Etat, France’s supreme administrative court, dismissed all the appeals against the concession permits, allowing the Courseulles-sur-Mer and Fécamp projects to occupy publicly owned maritime zones.
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August 07, 2019
EDPR completes sale of 997 MW European wind portfolio
EDP Renewables (EDPR), part of Energias de Portugal SA, has completed the sale of its interest in an operating 997 MW European onshore wind portfolio to institutional investors advised by JP Morgan Asset Management.
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July 29, 2019
Total Eren closes 650 MW acquisition facility in Europe
Total Eren has announced the closing of the Novenergia transaction, which involves the acquisition of more than 650 MW of renewable assets across Europe and raising of a EUR250 million (US$281 million) acquisition facility.
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