The European Investment Bank (EIB) is to provide €350m to co-finance the construction of the 450MW Calvados offshore wind farm off France.
EIB’s participation is guaranteed by the European Fund for Strategic Investments, the central pillar of the Investment Plan for Europe.
Calvados is located off Courseulles-sur-Mer in Normandy and will feature 64 wind turbines.
Its commissioning is scheduled for 2024.
The site will mobilise more than 1000 direct jobs in Normandy, particularly in Le Havre, where the wind turbines will be manufactured and then assembled.
The project will also allow the creation of around 100 jobs in the port of Caen-Ouistreham in order to ensure maintenance operations.
Paolo Gentiloni, Commissioner for the Economy, said: “The Investment Plan for Europe supports the construction of a new wind farm in western France.
“This project will provide clean energy to some 630,000 people and thus create more than 1000 jobs.
“This is a new step towards achieving our objective of climate neutrality by 2050 and this operation highlights the full economic potential of measures in favour of the environment.”
So far, the Investment Plan for Europe has mobilized over €546.5bn in investment across the EU, including over €9bn in France.