Caisse des Dépôts Acquires Stake in Saint-Brieuc Project

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

The French financial organisation has formed a joint venture, Avel Vor, with Eole-RES, which reduced its stake 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 EUR 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.