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EDF Buys Stake in Irish Offshore Project

Image: EDF Renewables

Laxman Pai

French electricity giant Électricité de France (EDF) is moving into the Irish energy market.

EDF Renewables, a subsidiary of the French energy utility, has acquired a 50% stake in the Codling offshore wind project from Hazel Shore, a company linked to the property developer, Johnny Ronan.

EDF Renewables will develop and build the project alongside Fred Olsen Renewables, which owns the other 50% stake in 1100MW Codling Wind Park

It is the first investment by the international energy player in the Republic.

The Codling project is located south of Dublin, 13 km off the coast of County Wicklow thus benefiting from the favorable conditions for offshore wind off the east coast of Ireland. The initial development work started in 2003. Codling is spread across two sites, one of which, Codling 1, is consented.

EDF Renewables has a portfolio of offshore wind projects that exceeds 6 GW under operations, under construction and in development in the United Kingdom, in France, in Belgium, in Germany, in China and in the United States.

Bruno Bensasson, EDF Group Senior Executive Vice-President Renewable Energies and Chief Executive Officer of EDF Renewables said, "We are very pleased to join the Codling offshore wind project in partnership with Fred Olsen Renewables. We are committed to contributing to the Irish government's renewables goals. This important project clearly strengthens our strong ambition to be a leading global player in the offshore wind industry. This is consistent with the CAP 2030 strategy that aims to double EDF's renewable energy generation by 2030 and increase it to 50 GW net".

Feb 12, 2020

 

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