Danish ECA EKF to back French offshore wind project

KfW IPEX-Bank, together with Crédit Agricole CIB, Banco Santander, S.A., Mizuho Bank, European Investment Bank (EIB), and the Danish Export Credit Agency (EKF), has decided to finance the 30 MW Eoliennes Flottantes du Golfe du Lion (EFGL) floating wind project offshore France. “Fixed offshore wind farms can only be operated economically up to a certain sea depth. Floating wind farms will open up deeper waters. This gives us the opportunity to expand offshore wind power much more and drive the decarbonisation of energy generation faster worldwide”, said Dr Velibor Marjanovic, member of the Management Board of KfW IPEX-Bank. The project, which is one of the world’s first commercially financed floating offshore wind farms, is located in the Mediterranean Sea, more than 16 kilometres offshore from Leucate, Aude, and Le Barcarès, Pyrénées-Orientales. It is scheduled to be commissioned at the end of 2023 and will operate for 20 years.