Ocean Winds, partners reach final investment decision for 496 MW Dieppe-Le Treport offshore wind project

Ocean Winds, Sumitomo Corporation, and Banque des Territoires have made a final investment decision to develop the 496 MW Dieppe Le Tréport offshore wind project off the coast of France.

The wind farm, estimated at a cost of EUR2.7 billion (US$2.9 billion), is expected to be commissioned in 2026. It will have 62 wind turbines and will be located 15 km off Tréport and 17 km off Dieppe in the English Channel.

The financing of this project involves international public and private financing led by the Japan Bank for International Cooperation (JBIC) and a syndicate of 16 banks comprising six French, four Japanese, two British, two Spanish, one German, and one Dutch. The financing is provided through shareholders-backed financing and non-recourse debt. Société Générale, the financial advisor to the project, supported the raising of the financing.

Siemens Gamesa will produce the wind turbines that are to be installed by Jan de Nul Group in 2026. The project, which was a winner in the state's call for tenders launched in 2013, has been under development since 2014. DEME is responsible for the transport and installation of the foundations, the substation, and the construction, transport, and installation of the inter-array cables.