France's first offshore wind farm

The construction of the Saint-Nazaire offshore wind farm is underway, with the support of Groupe BPCE. Natixis, as mandated lead arranger, coordinated the efforts of the group’s various constituent companies: Caisse d'Epargne Bretagne Pays de Loire, Caisse d'Epargne Normandie, Caisse d'Epargne Ile-de-France and Banque Populaire Grand Ouest. Groupe BPCE’s contribution amounts to 100 million euros.

This operation fully illustrates Groupe BPCE's support for regional projects that encourage the transition to green energy. It strengthens Groupe BPCE's credentials in the wind energy sector, in which Natixis is one of the global leaders, particularly in Europe, where it has financed numerous flagship projects such as Merkur in Germany and Beatrice in the United Kingdom.

This offshore wind farm, the first in France, is located about twelve kilometers offshore from Saint-Nazaire. It is notably developed by EDF Renewables. Eighty turbines of six megawatts each will be manufactured in France by GE Renewable Energy. Production is expected to supply over 700,000 inhabitants, equivalent to 20% of the total electricity consumption in the Loire-Atlantique. Up to seven thousand direct and indirect jobs will be created by the construction, installation and operation of the farm. Studies have demonstrated that the site is compatible with both environmental issues and sea users.

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