Caisse des Dépôts acquires stake in Saint-Brieuc offshore wind project

Caisse des Dépôts has acquired a 7.5% stake in the 496 MW Saint-Brieuc offshore wind energy project off the French coast.

The French company has formed a joint venture with Eole-RES named Avel Vor, which reduced its stake in the project to 22.5%.

Iberdrola remains the majority shareholder with 70% stake in the project while the newly formed joint venture holds the remaining 30%.

The €2 billion project was awarded to Iberdrola – Eole-Res consortium in 2011. It will comprise 62 turbines with individual capacity of an 8 MW scheduled to go online in 2020.

Caisse des Dépôts said this investment is part of its strategic priorities and illustrates its desire to encourage the diversification of the energy mix.

The Saint-Brieuc offshore wind farm project is a response to Brittany's electricity challenges. It is part of a political desire to push the development of renewable energy production plants in the region, and it will provide enough electricity to cover the needs of approximately 840 000 people each year. The project focuses on the development, construction and operation of an offshore wind farm of a total installed capacity of 496MW, located at approximately 20 km off the coast of Saint-Brieuc. The 8MW turbines will be supplied by AREVA WIND.