France\u0027s first commercial\u002Dscale offshore wind farm, backed by Enbridge Inc. and the CPPIB, is now fully operational. Read more
The 480-megawatt Saint-Nazaire wind project — also backed by France’s state-owned electric utility company, EDF Group — will produce the equivalent of 20 per cent of Loire-Atlantique’s annual electricity consumption, representing the electricity demand of about 700,000 people each year, according to aSign up to receive the daily top stories from the Financial Post, a division of Postmedia Network Inc.
Workers stand by the first of 80 Haliade 150-6MW Offshore Wind Turbine produced for France’s wind farm off Saint-Nazaire.The news comes as Europeans continue to grapple with skyrocketing energy bills amid a global surge in electricity and gas prices, thanks in part to supply disruptions linked to Russia’s invasion of Ukraine last February.
“Enbridge is excited about the arrival of the first commercial-scale offshore wind project in France, the Saint-Nazaire Offshore Wind Farm, and about our role as a leader of the global energy transition,” said Matthew Akman, Enbridge’s senior vice-president for power, strategy and new technology in a release. “We’re advancing several renewable energy projects in Europe and North America, and we are proud to have met this achievement ahead of schedule.
Enbridge’s investment in renewables such as wind, solar and waste-heat recovery currently comprise five per cent of the company’s business, according to a recent estimate by Zacks Investment Research.Article contentWednesday, Canada’s largest pension fund said it was proud to deliver France’s first major offshore wind project, despite the challenging economic circumstances.
“Saint-Nazaire is the first of many wind investments for us in France that will develop its energy sources and continue its energy transition,” said CPPIB’s managing director of sustainable energies, Bruce Hogg. “It will be a flagship project and an excellent example of our long-term commitment to developing major renewable projects through our global network of renewable energy businesses and partnerships.
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Pipeline giant Enbridge and CPPIB back France's first commercial offshore wind projectFrance\u0027s first commercial\u002Dscale offshore wind farm, backed by Enbridge Inc. and the CPPIB, is now fully operational. Read more
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