Sumitomo Corporation: Noirmoutier 500 MW Offshore Wind Farm in France Begins Commercial Operation
- Installed capacity 512.4 MW (61 × 8.4 MW with power boost) with 500 MW grid connection, ~12 km off the Bay of Biscay.
- Construction began April 2023; commercial operation has commenced and the asset is expected to operate for ~25 years with annual generation ≈ consumption of 800,000 people.
- Shareholders include Ocean Winds (40%), Sumitomo Corporation (29.5%), Allianz Global Investors, Caisse des Dépôts and Vendée Energie; power sold under a long‑term fixed‑price PPA to EDF and financed by a syndicated project loan led by JBIC and major banks.
Project overview
Construction began in April 2023 and the Noirmoutier bottom-fixed offshore wind farm has completed construction and commenced commercial operation; it is located approximately 12 km offshore in the Bay of Biscay and is expected to operate for about 25 years.
Capacity and generation
The facility comprises 61 turbines of 8.4 MW with power boost for an installed capacity of 512.4 MW and a grid connection capacity of 500 MW; estimated annual generation is equivalent to the electricity consumption of roughly 800,000 people.
Ownership and offtake
Shareholders are Ocean Winds (40%), Sumitomo Corporation (29.5%), Allianz Global Investors (20.25%), Caisse des Dépôts et Consignations (9.75%) and Vendée Energie (0.5%); electricity is contracted under a long-term fixed-price power purchase agreement with Électricité de France (EDF).
Financing
The project is structured as a project finance transaction supported by a syndicated loan provided by Japan Bank for International Cooperation (JBIC), Norinchukin Bank, Mizuho Bank, Sumitomo Mitsui Banking Corporation, MUFG Bank, Crédit Agricole Corporate and Investment Bank, Societe Generale, BNP Paribas, Standard Chartered Bank and other financial institutions.
Source: Sumitomo