Ocean Winds, a joint venture between EDP and Engie, has sold a minority stake in its îles d’Yeu et Noirmoutier offshore wind farm.
The company sold a 20.25% stake in the 500MW offshore wind farm to Allianz Global Investors for an equity value of $232 million.
The offshore wind farm, located in Vendée, France, consists of 61 8.2MW turbines, and benefits from a 20-year fixed inflation-linked feed-in tariff.
Following the final investment decision in April 2023, the project has progressed into the final stages of construction. First power was generated in June 2025, and over half of the turbines are now installed, supplying renewable electricity to French households.
Following this transaction, Ocean Winds will hold a 40% stake, while Allianz will hold 20.25%. Sumitomo, Banque des Territoires, and Vendée Energie will retain their existing stakes of 29.5%, 9.75%, and 0.5%, respectively.
