Calvados project partners finalise financing agreements

In: Windfarms
22/02/2021

EDF Renewables, a subsidiary of the EDF Group, EIH S.à.r.l, a subsidiary of Enbridge Inc., a North American energy infrastructure company, and wpd , a European renewable energies company, are announcing the launch of construction activity on the
Calvados offshore wind farm (Courseulles-sur-Mer). This announcement follows the finalisation of financing agreements between the consortium and its financial partners.

The 448 MW
Calvados offshore wind project will consist of 64 wind turbines located more than 10 km from the Bessin coastline across a total surface area of approximately 45 km². Upon its commissioning, scheduled in 2024, it will generate the equivalent of the annual electricity consumption of 630,000 people, or over 90% of the Calvados French department’s population.

The total project cost is estimated at around €2 billion. The majority will be financed through non-recourse project finance debt. The Calvados offshore wind farm holds a 20-year power purchase agreement (PPA) granted by the French government in June 2018.


The three-and-a-half-year construction project will create over 1,000 direct jobs in Normandy and will contribute to the development of the French offshore wind industry.


The project’s wind turbines will be manufactured in Le Havre at Siemens Gamesa Renewable Energy’s Quai Joannes Couvert plant, which is currently under construction. Upon commissioning scheduled in the first half of 2022, a total of 750 direct and indirect jobs will have been created. The plant will also manufacture the 71 wind turbines for the
Fécamp offshore wind farm awarded to the same consortium, which construction began in June 2020. The wind turbines will be assembled at the Port of Le Havre, then, shipped to the installation site. Offshore construction activity is due to commence in 2022.

RTE, which is responsible for connecting the wind farm from the offshore sub-station to Normandy’s electricity grid, will commence its onshore work in March 2021.


The consortium has now signed and sealed its main supply agreements with top-tier providers, including
Siemens Gamesa Renewable Energy (SGRE) for the sixty-four 7 MW wind turbines; Saipem for the monopile foundations; Prysmian Group for the sub-sea cables connecting the wind turbines to the offshore substation; Chantiers de l’Atlantique, GE Grid Solutions and SDI for the offshore substation.

Bruno Bensasson, EDF Group Senior Executive Vice-President Renewable Energies and Chairman and Chief Executive Officer of EDF Renewables, commented: “We are thrilled to announce today that, together with our partners Enbridge and wpd, we are launching construction of the offshore wind Calvados (Courseulles-sur-Mer) project. The Saint-Nazaire, Fécamp and Calvados offshore wind farm projects awarded to EDF Renewables in the French government’s first call for tenders in 2012 are coming to fruition, with construction now underway. Everything is coming together for our teams and all the local stakeholders who have worked with such passion, determination and expertise to help bring about a major step forward for the local economy’s environmental and social transitions. In all, these three projects will provide employment for 7,000 people. Once the wind farms are in service, 300 sustainable jobs will be created, and they will generate sufficient electricity every year to cover the needs of 2 million people. In parallel, we continue to progress the development of the Dunkerque wind farm, the fourth projects awarded to us of the seven attributed by the French government. The EDF Group, a leading player in the French offshore wind segment, is proud to be playing its part in establishing this industry in France. Offshore wind energy is an integral part of EDF’s strategy, which has recently been enhanced and now aims to more than double its net renewable energy capacity worldwide from 28 to 60 GW between 2015 and 2030.”


Matthew Akman, Senior Vice President, Strategy and Power, Enbridge, added: “We are pleased to have reached a final investment decision on our third offshore wind farm in France, and for construction to formally commence on the Calvados (Courseulles-sur-Mer) project. Over the past several years, we have firmly established Enbridge as a competitive player in offshore wind in Europe and developed an extensive portfolio of projects. Enbridge is investing in renewable power projects that support the transition to a lower-carbon economy and are aligned with our low-risk investment approach. The Calvados project is another proud achievement for us and our partners, EDF Renewables and wpd.”


Achim Berge Olsen, Executive Director of the wpd AG Group and Chairman and CEO of wpd offshore France, commented: “We are very proud that this next step in the Courseulles-sur-Mer project has taken place, after a long work undertaken by our teams in 2008 in Normandy. Beyond the industrial opportunities created by this project, the Calvados park anchors the sustainability of offshore wind in the French energy mix. It also paves the way for future projects that will emerge off the French coast in the coming years, for which wpd intends to continue to play a major role.”


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