Offshore wind turbines: destination Dieppe Le Tréport

Wednesday, 3 may 2023

After the wind farm projects off the Île d’Yeu and Île de Noirmoutier islands in the Vendée region (western France), Groupe BPCE is teaming up with the same international partners to finance the Dieppe Le Tréport offshore wind turbines in the region served by the Caisse d’Epargne Normandie.

A new boost for the offshore wind energy sector! The investment agreement announced on April 27, worth a total of 2.7 billion euros, launches the construction of France’s sixth wind farm, 15km out to sea from Le Tréport and 17km from Dieppe. Comprised of 62 wind turbines, it will provide almost 850,000 people with sustainable electricity by 2026, i.e. almost two-thirds of the current population of Seine-Maritime. 

The entities behind the project’s financing package are much the same as for the Ile d’Yeu and Ile de Noirmoutier wind farm announced in early April: Ocean Winds (a joint venture between ENGIE and EDP Renewables), Sumitomo Corporation, and the Banque des Territoires.  

Groupe BPCE, one of the 16 international banks involved in the financing, was able to leverage its chain of expertise and strong local presence with Caisse d’Epargne Normandie, BPCE Energeco (a subsidiary of BPCE Lease), Natixis Corporate & Investment Banking, and the Caisses d’Epargne ENR fund dedicated to financing energy transition projects. This project is perfectly aligned with the corporate purpose of Caisse d’Epargne Normandie, the first French bank to gain B-Corp certification in 2020. 

The construction of the wind farm is expected to create almost 1,300 direct jobs over a period of three years with the involvement of Europe’s principal players in this industry: Siemens Gamesa for the manufacture of the wind turbines, Chantiers de l’Atlantique for the construction of the electrical substation, DEME for the installation of the substation and cables, and RTE that will take care of the connections.