Crowdfunding launched for 30-MW EolMed floating wind demo in France

A crowdfunding campaign targeting EUR 3 million (USD 3.2m) will be launched to support the 30-MW EolMed floating wind pilot project in the French Mediterranean.

The EolMed partners have joined hands with French financing platform Enerfip for the initiative, domestic renewable power producer Qair said last week. The latter is part of the consortium behind the project along with French floating wind technology developer BW Ideol (OSE:BWIDL) and energy group TotalEnergies SE (EPA:TTE).

The campaign will initially run only in the Aude department of Occitanie, while from June 10 it will be available to all French regions. The fundraising will run by July 7, 2022.

EolMed will be the first floating wind project in France being backed by citizen financing, according to the statement. The scheme has already received EUR 400,000 from an earlier fundraising in 2018 in the Occitanie region.

The EolMed offshore wind farm is planned to be installed 18 km off Gruissan, a town on the western part of the French south coast in the Occitania region. It will use three 10-MW turbines mounted on steel floats made by local firms Matiere and Ponticelli. Completion is expected in mid-2024.

The wind farm’s output is estimated to be enough to cover the demand of around 50,000 people annually.

(EUR 1.0 = USD 1.067)

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