Japanese investor Sumitomo Corporation has taken a stake in two French offshore wind projects totalling almost 1GW.
The group has acquired a 29.5% interest in the Engie-led Les Eoliennes en Mer joint venture, which is developing the 496MW Noirmoutier and 496MW Treport projects.
The investment is Sumitomo’s first in the French offshore wind market, it is understood.
Engie remains the largest Les Eoliennes en Mer shareholder with 31%. EDPR holds 29.5% and Caisse des Depots subsidiary La Banque des Territoires the remaining 10%.
Offshore construction is scheduled to kick off in 2020, with both projects expected to be commissioned in 2023.
However, appeals could push the timetable back.
Noirmoutier project is situated about 16km off the Atlantic Coast, where waters are up to 35 metres deep.
Treport is located 16km off Normandy in the English Channel, where waters are up to 25 metres deep