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ENGIE and EDPR Sign An Alliance with Sumitomo Corporation for the Development of Offshore Wind Projects in Yeu-Noirmoutier and Dieppe-Le Tréport - Sumitomo Corporation acquires a 29.5% equity stake in the French offshore projects and will bring to the consortium its proven and complementary offshore wind expertise in terms of development, construction and operation [Euronext: EDPR] - EDPR.com
ENGIE and EDPR Sign An Alliance with Sumitomo Corporation for the Development of Offshore Wind Projects in Yeu-Noirmoutier and Dieppe-Le Tréport

 

NewswireToday - /newswire/ - Paris, Ile-de-France, France, 2018/12/18 - Sumitomo Corporation acquires a 29.5% equity stake in the French offshore projects and will bring to the consortium its proven and complementary offshore wind expertise in terms of development, construction and operation [Euronext: EDPR] - EDPR.com. FR0010 208488

   
 
 

As part of the alliance, Sumitomo Corporation acquires a 29.5% equity stake in the French offshore projects (Dieppe Le Tréport and Yeu Noirmoutier) and will bring to the consortium its proven and complementary offshore wind expertise in terms of development, construction and operation.

ENGIE (engie.com) remains the reference shareholder with a 31% stake and the leading industrial player of both parks (496 MW each), in partnership with EDPR (29,5%) and La Banque des Territoires (part of Groupe Caisse des Dépôts, 10%).

Sumitomo Corporation is a leading Japanese industrial group already strongly positioned in the wind energy sector in Japan, Europe, United-States, South-Africa and China. The company is also part of some major offshore wind projects in Belgium and in the United Kingdom, totaling an installed capacity of over 1.5 GW1.1

Sumitomo Corp is also one of ENGIE’s long-time trusted partners and co-investors in desalination and geothermal projects in the Middle-East and Indonesia.

Socio-industrial commitments remain confirmed. This new alliance underlines the attractiveness of the French offshore wind market and the implementation of a French Marine energy sector.

[1] In Belgium : Northwind (216MW in operation - 30%), Nobelwind (165MW in operation - 39%) and Northwester 2 (219MW under construction - 30%) and in Britain : Galloper (336MW in operation - 12.5%), Race Bank (573.3MW in operation- 12.5%)

About ENGIE

We are a global energy and services group, focused on three core activities: low-carbon power generation, mainly based on natural gas and renewable energy, global networks and customer solutions. Driven by our ambition to contribute to a harmonious progress, we take up major global challenges such as the fight against global warming, access to energy to all, or mobility, and offer our residential customers, businesses and communities energy production solutions and services that reconcile individual and collective interests. Our integrated - low-carbon, high-performing and sustainable - offers are based on digital technologies. Beyond energy, they facilitate the development of new uses and promote new ways of living and working. Our ambition is conveyed by each of our 150,000 employees in 70 countries. Together with our customers and partners, they form a community of imaginative builders who invent and build today solutions for tomorrow.

2017 turnover: 65 billion Euros. Listed in Paris and Brussels (ENGI), the Group is represented in the main financial (CAC 40, BEL 20, Euro STOXX 50, STOXX Europe 600, MSCI Europe, Euronext 100, FTSE Eurotop 100, Euro STOXX Utilities, STOXX Europe 600 Utilities) and extra-financial indices (DJSI World, DJSI Europe and Euronext Vigeo Eiris - World 120, Eurozone 120, Europe 120, France 20, CAC 40 Governance).

Investors relations contact: T: +33(0)1 44 22 66 29 - E: ir[.]engie.com.

About EDP Renewables

EDP Renewables (edpr.com) is a global leader in the renewable energy sector and the world’s fourth-largest wind energy producer. With a sound development pipeline, first class assets and market-leading operating capacity, EDPR has undergone exceptional development in recent years and is currently present in 13 markets (Belgium, Brazil, Canada, France, Greece, Italy, Mexico, Poland, Portugal, Romania, Spain, the UK and the US). Energias de Portugal, S.A. (“EDP”), the principal shareholder of EDPR, is a global energy company and a leader in value creation, innovation and sustainability. EDP has been a Dow Jones Sustainability Index for 11 consecutive years.

About Sumitomo Corporation

(“SC”) (sumitomocorp.com) is a leading Fortune 500 global trading and business investment company with 108 locations in 65 countries and 22 locations in Japan. The entire SC Group consists of more than 900 companies. SC conducts commodity transactions in all industries utilizing worldwide networks, provides related customers with various financing, serves as an organizer and a coordinator for various projects, and invests in companies to promote greater growth potential. SC’s core business areas include Metal Products, Transportation and Construction Systems, Infrastructure, Media and ICT, Living Related and Real Estate, Mineral Resources, Energy, and Chemical and Electronics. SC has broad experiences in the development and operation of offshore wind projects and has stakes in three offshore wind projects in Belgium (Northwind, Nobelwind and Northwester 2) and in two projects being finalized in United-Kingdom (Galloper and Race Bank).

 
 
 

Written by / Agency / Source: GDF SUEZ | ENGIE

 
 

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ENGIE and EDPR Sign An Alliance with Sumitomo Corporation for the Development of Offshore Wind Projects in Yeu-Noirmoutier and Dieppe-Le Tréport

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