On Thursday 11th May in Lorient, the Caisse des Dépôts and MERIDIAM signed their investment in the project company "Groix & Belle-Île floating wind turbines", a major milestone for the development of the wind farm project.
Since 2008, the urban area of Lorient and the Brittany region have been invested in the interest of a floating wind farm site off the islands of Groix and Belle-Île. This momentum became a reality in July 2016 when EOLFI and CGN EE (consortium EOLFI Offshore France) won the call for projects launched by ADEME to develop a pilot farm of floating wind turbines on this site put forward by the Region. Naturally, the partners in charge of the development, construction and operation of the project, have chosen the city of Lorient and NAVEXPO to formalize the arrival of two new investors into the project company called "Groix & Belle-Île floating wind turbines" - the Caisse des Dépôts (Deposits and Consignments Fund) and MERIDIAM–demonstrating the high level of interactivity between the urban area, the Region and the project.
The arrival of these French institutional investors is a strong indication of the interest generated by the emergence of the new floating wind energy sector for the future of the energy and industrial landscape in France and Brittany. This partnership will help develop the French energy and naval industry and open the doors to a global market for floating wind power, the prospects of which are considerable. It is complementary to the strong support provided by CGN EE and gives an indication of the international dimension of this sector.
This project is also supported as part of the Investment Program of the Future in the context of a call for projects led by ADEME.
For the Brittany Region, which has accompanied the project through all the stages of its development, this project is also an important step in the implementation of its strategy for the development of renewable marine energies.
This event was held in Lorient as part of the NAVEXPO 2017, the international maritime show (May 10th-12th, 2017), giving a tangible value to this project. Lorient is a pioneering city of maritime development, a pole for offshore racing, a high-tech industry incubator and has provided historical support for the project. The floating wind turbine project is fully aligned with the city’s development of nautical activities and will thus contribute to the development of the maritime economy.
For this transaction, EOLFI Offshore France was advised by Vulcain, a Paris-based merger and acquisition consultant, and EY Société d'Avocats (JC Sabourin and F. Casse) for the legal transactional aspects.
Groix & Belle-Île floating wind turbines
The project company “Groix & Belle-Ile floating wind turbines”, owned by EOLFI and CGN EE, was named winner of the ADEME EOLFLO call for projects on July 22nd 2016 for the development of floating offshore pilot wind farms on a site put forward as part of the Regional Sea and Coast Conference.
The project consists of installing 4 high-power wind turbines (6MW each) between Groix and Belle-Ile, at a depth of 60 to 70 metres, on floaters designed specifically for ocean sea conditions.
Caisse des Dépôts
The Caisse des Dépôts (Deposits and Consignments Fund) and its subsidiaries, is a state-owned group,a long-term investor serving the general interest and economic development of the territories. Its mission was reiterated by the economic modernisation act dated August 4th 2008.
Recognized for its expertise in managing mandates, the Group focuses its action on four strategic transitions for the long-term development of France and its overseas territories: territorial, ecological and energy, digital, demographic and social transitions.
Meridiam is a French business group, leader in investment and long-term management of public infrastructures. Founded in 2005 by its current CEO, Thierry Déau, the company is an independent entity committed to aligning the interests of all stakeholders, with a responsible investment approach. Its investment horizon at 20 years and more ensures a true long-term vision of the infrastructure. The group finances and manages a number of assets in the transport, social facilities, environment and energy transition sectors. With 5 billion euros in assets under management, Meridiam currently has 56 projects in development, both construction and operation, centred mainly in Europe, North America and Africa.
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