Enbrigde has agreed to sell 49% of its stake in the Éolien Maritime France (EMF) offshore wind development consortium to the Canada Pension Plan Investment Board (CPPIB). CPPIB will reimburse Enbridge 49% to of all development capital invested so far, exceeding CAD100m (€71m), and will contribute its pro-rata share to all upcoming investments. After the closure of the transaction, which is expected by the end of 2020, EDF Renewables will hold 50% of EMF, followed by Enbridge (25.5%) and CPPIB (24.5%).
EMF is developing three offshore wind projects in France, namely the 480 MW Saint Nazaire (Parc du Banc de Guérande), 498 MW Fécamp and 450 MW Courseulles-sur-Mer (Calvados) projects. The Courseulles-sur-Mer project is also partly owned by the German developer Wpd. The consortium plans to take a final investment decision on Fécamp and Courseulles-sur-Mer later in 2020.
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