Eolmed Pilot Floating Offshore Wind Farm’s Financing

Clifford Chance and BCTG Avocats advised La Banque Postale, BPCE Energeco, Bpifrance, Natixis and the European Investment Bank on all aspects of the financing of the Eolmed pilot floating offshore wind farm. Watson Farley & Williams LLP advised the company of the project.

The 30 MW floating offshore wind farm will have 3 wind turbines located in Gruissan, in the Mediterranean Sea. The pilot project is developed by Qair, TotalEnergies and BW Ideol and the construction of the wind farm will start in Autumn 2022. The financing will be made available by commercial lenders and the European Investment Bank, with a financial support from the Agency for Ecological Transition (ADEME in French) for the construction phase.

The Clifford Chance team common to all lenders was led by Daniel Zerbib (Picture – Partner) and included Nina Yoshida (Associate), Sophie Laporte (Associate) and Tessa Sejor (Trainee Lawyer) for matters related to financing, Gauthier Martin (Partner), Daphné Celet (Associate), Clémence Graffan (Associate) and Elise Mayer (Associate) for the aspects of public law, energy law and state aid law, Fabien Jacquemard (Counsel) on matters relating to derivatives, as well as David Metzger (Partner), Irina Steinberg (Senior Associate), Leonhard Rudolph (Senior Associate), Jonathan Forrest (Associate), Olivier Gaillard (Associate) and Jérémy Guilbault (Associate) for matters relating to industrial contracts and construction. The Clifford Chance team advising on aspects specific to the European Investment Bank was led by Delphine Siino Courtin (Partner) and included Eric Lienard (Associate).

The BCTG Avocats team included Paul Elfassi, Aurélie Surteauville, Antoine le Dylio.

The Watson Farley & Williams LLP team included Laurence Martinez-Bellet, Julie Michelangeli and Diana Harapu.

Involved fees earner: Paul Elfassi – BCTG & Associés; Antoine Le Dylio – BCTG & Associés; Aurélie Surteauville – BCTG & Associés; Daphné Celet – Clifford Chance; Jonathan Forrest – Clifford Chance; Olivier Gaillard – Clifford Chance; Clémence Graffan – Clifford Chance; Jérémy Guilbault – Clifford Chance; Fabien Jacquemard – Clifford Chance; Sophie Laporte – Clifford Chance; Eric Lienard – Clifford Chance; Gauthier Martin – Clifford Chance; Elise Mayer – Clifford Chance; David Metzger – Clifford Chance; Leonhard Rudolph – Clifford Chance; Delphine Siino Courtin – Clifford Chance; Irina Steinberg – Clifford Chance; Nina Yoshida – Clifford Chance; Daniel Zerbib – Clifford Chance;

Law Firms: BCTG & Associés; Clifford Chance;

Clients: BPCE Energeco; Bpifrance; European Investment Bank; La Banque Postale; Natixis;

Giulia Di Palma

Author: Giulia Di Palma