April 6, 2020
Business News

Sacre bleu! French energy giant buys €100m stake in wind farm off coast of Wicklow

A French energy giant has bought 50% of a massive wind farm off the coast of Wicklow for €100m.

EDF Renewables has taken a stake in the Codling offshore wind project, which is 13kms off the Garden County coast, from Hazel Shore, which is linked to developer Johnny Ronan.

EDF did not disclose the figures involved but Hazel Shore’s 50% stake in the project had been on the market with a price tag of €100m.

EDF will team up with Fred Olsen Renewables, which owns the other half of the project, and it’s believed the project will have a capacity of 1 Gigawatt when completed with a value of more than €2.5bn when finished.

“We are committed to contributing to the Irish government’s renewables goals,” Bruno Bensasson, Chief Executive Officer of EDF Renewables said.

“This important project clearly strengthens our strong ambition to be a leading global player in the offshore wind industry. This is consistent with the CAP 2030 strategy that aims to double EDF’s renewable energy generation by 2030 and increase it to 50 Gigawatts net.”

In December,  WicklowNow.ie reported how SSE Renewables were planning a €2bn also off the Wicklow coast.

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