Linklaters advises commercial banks and the European Investment Bank on the financing of the Fécamp Offshore Wind Farm Project
Linklaters advised Crédit Agricole CIB, BNPP, Société Générale and the European Investment Bank on all aspects of the limited recourse financing of the Fécamp offshore wind farm. This project is being developed by the Eolien Maritime France consortium, comprised in equally of EDF Renewables in France, Enbridge in Canada, and wpd who are in charge of the development, financing, construction and operation of this future wind farm.
The 497 MW Fécamp offshore wind farm will have 71 wind turbines located between 13km and 22km from the coast of Fécamp, Normandy. Project commissioning is scheduled in 2023. The power generated by the wind farm will provide enough power to meet the annual consumption needs of 770,000 persons, or over 60% of the Seine-Maritime department’s population. The project is led by EDF Renewables, a subsidiary of the EDF Group, Enbridge, a leading energy infrastructure company in North America, and wpd, a European producer of renewable energies.
This is the second offshore wind project to reach financial close in France, following the Saint Nazaire project last year. This project, with an estimated total investment cost of 2 billion euros, is the largest greenfield project financed during the COVID19 sanitary crisis in France.
The Linklaters team common to all lenders was led by François April, partner and included Samuel Bordeleau, counsel, Etienne Paletto, Alexander Leadill, Salimatou Kaba and Enzo Beule, associates on project finance, energy law, industrial and construction contracts aspects, Pierre Guillot, partner and Sandra Hoballah Campus, associate, on public law aspects, Pierre Zelenko, partner, and Nicholas Zacharie, counsel, on state aid law aspects, Aurore Imbabazi, associate, on derivative law aspects, and Thomas Schultz, partner, and Josepha Mallwitz and Laura Pfälzner, associates, for German law aspects.
The Linklaters team advising on aspects specific to the European Investment Bank was led by Bertrand Andriani, partner and included Justin Faye, counsel and Romain Marchand, associate.