EDPR to sell 13.5% stakes in Noirmoutier and Treport wind projects to Sumitomo Corp

EDP Renovaveis is selling its 13.5% stake in two wind projects off the coast of France - 496 MW Parc des Iles d'Yeu et de Noirmoutier offshore wind project and 496 MW Parc eolien en mer de Dieppe-Le Treport offshore wind farm to Sumitomo Corporation for consideration of EUR42.8 million (US$49 million) investment. 

The Parc des Iles d'Yeu et de Noirmoutier and Parc eolien en mer de Dieppe-Le Treport form a single 992-MW project at Yeu-Noirmoutier and Dieppe-Le Treport.

Sumitomo will be purchasing a total stake of 29.5% in the partnership developing the two wind farms. Other partner companies are Energias de Portugal SA (29.5%), French utility Engie (31%), and Caisse des depots (CDC) for 10%. 

The wind farms are expected to be commissioned by 2021.