The developers of the 500-MW Fecamp offshore wind project today announced the launch of the construction process, having closed financing deals between them and the financial partners.
EDF Renewables and Canada-based Enbridge Inc each hold 35% stakes in the project, while the offshore wind unit of Wpd has the remaining 30% interest. They said that the total project capital cost amounts to EUR 2 billion (USD 2.23bn) and that most of it will be covered with non-recourse project level debt.
The parties also confirmed they have awarded a wind turbine supply contract to Siemens Gamesa Renewable Energy SA, which yesterday said it will deliver 71 units of the SWT-7.0-154 model for the project. SGRE plans to start building works on a new turbine manufacturing plant in Le Havre this summer.
The Fecamp wind park is expected to be commissioned in 2023, when it will start selling electricity under a 20-year power purchase agreement (PPA) that was awarded to the consortium in June 2018. The output of the plant will be enough to meet the annual consumption of about 770,000 people.