ENGIE and EDPR sign an alliance with Sumitomo
Press release, 18 December 2018
ENGIE and EDPR sign an alliance with Sumitomo Corporation for the development of offshore wind projects in Yeu-Noirmoutier and Dieppe-Le Tréport, France.
As part of the alliance, Sumitomo Corporation acquires a 29.5% equity stake in the French offshore projects (Dieppe Le Tréport and Yeu Noirmoutier) and will bring to the consortium its proven and complementary offshore wind expertise in terms of development, construction and operation.
ENGIE remains the reference shareholder with a 31% stake and the leading industrial player of both parks (496 MW each), in partnership with EDPR (29.5%) and La Banque des Territoires (part of Groupe Caisse des Dépôts, 10%).
Sumitomo Corporation is a leading Japanese industrial group already strongly positioned in the wind energy sector in Japan, Europe, United-States, South-Africa and China. The company is also part of some major offshore wind projects in Belgium and in the United Kingdom, totaling an installed capacity of over 1.5 GW
Sumitomo Corp is also one of ENGIE’s long-time trusted partners and co-investors in desalination and geothermal projects in the Middle-East and Indonesia.
Socio-industrial commitments remain confirmed. This new alliance underlines the attractiveness of the French offshore wind market and the implementation of a French Marine energy sector.