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Local equity investment in the Yeu-Noirmoutier wind farm

Vendée Energie, a company created at the instigation of local elected officials, has acquired a stake in the future offshore wind farm on the islands of Yeu and Noirmoutier.

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Vendée Energie, a company created under the impulse of local elected officials, has entered the capital of the future offshore wind farm of the islands of Yeu and Noirmoutier, a local participation still unheard of for this type of project in France, announced Thursday the holders of the project.

This semi-public company, created twenty years ago by the will of elected officials in the Vendée region, now holds 0.5% of the consortium carrying the project, for nearly 3.5 million euros.

Alongside it are Ocean Winds (a joint venture between Engie and EDP Renewables, 60.25%), the Japanese SRPN (29.5%) and Eoliennes en Mer Participations (a subsidiary of Caisse des Dépôts, 9.75%).

The construction of the 62 wind turbines is scheduled to start in 2023, for an entry into service in early 2026.

“Becoming a shareholder in this project, which will produce the equivalent of the annual consumption of 800,000 people, i.e. more than the population of the Vendée, thanks to the energy of the ocean, is to reaffirm that the Vendée is making the energy transition the priority of priorities,” explains Alain Leboeuf, president of Vendée Energie and the Vendée departmental council, in the press release.

“Local involvement is key to the success of offshore wind and a source of opportunities for local industries and communities,” commented Grzegorz Gorski, Ocean Winds’ Director of Operations.

For Emmanuel Legrand, from the Banque des Territoires, “by becoming the first offshore wind farm project with an SEM in its capital, the Eoliennes en Mer des Iles d’Yeu et Noirmoutier demonstrate that it is possible to strengthen the inclusion of territories in large-scale projects.

The Vendée began its energy transition in 2000 with an onshore wind farm project. Today, more than 20% of the electricity and 10% of the gas consumed are produced by local green energies; the offshore park will allow the Vendée to produce 60% of its electricity.

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