Having recently become an investor in the Triton Knoll offshore wind project in the UK and Northwester 2 project being developed by Parkwind in Belgium, Japan’s Sumitomo Corporation is also taking a stake in two French projects.
Engie and EDPR have signed an agreement with Sumitomo for the development of offshore wind projects at Yeu-Noirmoutier and Dieppe-Le Tréport.
As part of the alliance, Sumitomo has acquired a 29.5% equity stake in the French offshore projects.
Engie remains the reference shareholder with a 31% stake and the leading industrial player at both windfarms, in partnership with EDPR (29.5%) and La Banque des Territoires (part of Groupe Caisse des Dépôts, 10%).
Sumitomo has secured a strong position in the wind energy sector in Japan, Europe, US, South Africa and China. It is also one of Engie’s long-time partners and co-investors in a range of other projects. In the UK it also holds an interest in the Galloper offshore windfarm.