Linklaters has advised the Japan Bank for International Cooperation (JBIC) and 16 commercial banks, as lenders, on all aspects of the financing of Les Eoliennes en Mer Dieppe – Le Tréport (EDMT) offshore wind farm.
The project involves the construction and installation of a wind farm located in the English Channel, 15 km off the city of Le Tréport and 17 km off the city of Dieppe. Upon its commissioning, from 2026, it will generate the equivalent of the annual electricity consumption of nearly 850,000 people.
The project is developed by Ocean Winds (a 50-50 joint venture owned by ENGIE and EDP Renewables), Sumitomo Corporation and la Banque des Territoires, all shareholders of the company Eoliennes en Mer Dieppe Le Tréport (EMDT).
The Dieppe Le Tréport offshore wind farm is an investment of approximately €2.7 billion. It will mainly be financed by non-recourse debt, made available by JBIC and a syndicate of 16 commercial lenders. Upon completion, the electricity generated by the project will be sold to Électricité de France (EDF) for 20 years.
This is the fifth offshore wind farm project after Eoliennes en mer des Iles d’Yeu et de Noirmoutier (EMYN), Courseulles-sur-Mer, Fécamp and Saint-Nazaire on which Linklaters also acted as lenders’ counsel.
The Linklaters Paris team advising all lenders was led by Energy and Infrastructure partner François April, and included partner Pierre Guillot, counsel Samuel Bordeleau, managing associates Noémie Lisbonis Boyer, Pauline Portos and Arani Chakrabarty, associates Sandra Hoballah Campus, Laura Nunes Vicente, Hennie Lui, Raphaël Papon, as well as Tax partner Cyril Boussion, associates Lucille Cazala and Philippe Ludwig, and Antitrust and Foreign Investment counsel Nicolas Zacharie. The team in charge of hedging aspects consisted of Capital Markets counsel Rhian Roberts, associates Samuel Monteith, Megan Gosling and Zan Chua, in London. Energy and Infrastructure partner John Maxwell, senior associates Charlie Bown and Mamoru Ikeda, and associate Nana Shiori, in Tokyo, worked on the Japanese aspects of the transaction, and Banking associate Francisco Ruiz in Madrid, and Capital Markets/Banking associate Mehmet Aktas, in Luxembourg, respectively worked on aspects of Spanish and Luxembourg law.
