French Floater Secures EIB Financing

The 30 MW EolMed floating wind project offshore France’s Mediterranean coast has secured EUR 85 million in financing from the European Investment Bank (EIB).

The financing contracts for the project were signed on 29 April.

The floating wind farm, fully consented in February 2021, will comprise three Vestas 10 MW wind turbines mounted on BW Ideol’s Damping Pool floating foundations and installed 15 kilometres off Gruissan, in water depths of around 60 metres.

The wind farm is owned by Qair (Quadran Énergies Marines), TotalEnergies, who bought a 20 per cent stake in the project in October 2020, and BW Ideol, who acquired a five per cent ownership stake in December 2021.

The construction of the wind farm is expected to start later this year and the commissioning is scheduled for 2023.

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