Enbridge Buys Into French Offshore Wind Developer
Canadian energy company Enbridge has agreed to acquire a 50% interest in Éolien Maritime France SAS (EMF), a French offshore wind development company, for an investment of CAD 282 million (approx. EUR 191 million).
Following the acquisition, which is expected to be finalized around 19 May, Enbridge will co-own EMF with EDF Energies Nouvelles (EDF EN).
Enbridge and EDF EN will develop three large-scale offshore wind farms off the coast of France that would have a combined capacity of 1,428MW: the 498MW Eoliennes Offshore des Hautes Falaises wind farm off the coast of Fecamp, 450MW Eoliennes Offshore du Calvados project off the coast of Courseulles-sur-Mer, and the 480MW Parc du Banc de Guerande project, located off the coast of Saint-Nazaire.
Development of the three projects is already underway, however, construction is still subject to final investment decision (FID) and regulatory approvals. The projects are in an advanced stage of development with permitting process close to completion, and significant technical and environmental studies already performed. Front-end engineering and design have been completed, construction contracts tendered and bids received.
“This is a unique and strategic opportunity for Enbridge to further grow our investment in renewable power and build on our existing presence in European offshore wind generation. This investment in EMF advances our priority to build new business platforms that will extend and diversify growth,” said Al Monaco, President and CEO of Enbridge.
Last year, Enbridge acquired a 24.9% interest in Rampion Offshore Wind Limited, the developer of the UK Rampion offshore wind farm, comprising E.ON and the UK Green Investment Bank plc (GIB).
With EDF EN, Enbridge co-owns four operating onshore wind projects in North America.