By closing this transaction, SFS enabled its sponsor to sustainably grow its platform of wind assets in Italy which represented the fourth transaction of this kind between SFS and this key client in the country. This transaction clearly demonstrated how a strong long-term client commitment is further strengthening Europe’s renewable sector.
In France, SFS has been at the forefront of the country’s push into offshore wind via its recent involvement in the Fécamp offshore wind power plant. The Fécamp project not only marks the largest industrial project in the French renewable energy industry to date, but also the first such Siemens Gamesa project in the country with Siemens Gamesa receiving the firm order for the supply of wind turbines and a 15-year maintenance contract.
Through Siemens Bank, SFS supported Siemens Gamesa as part of a consortium of three leading French banks and over a dozen international banks, providing project finance debt. The transaction represents another high-profile instance of the continuous and long-term support SFS offers for renewable investments in Europe.
With a follow-up project called Courseulles-sur-mer, or CSM for short, SFS is now continuing its green journey in France. Like Fécamp, CSM is a large-scale French offshore greenfield project and is now the second offshore wind farm utilizing Siemens Gamesa technology in France.
Both projects have been developed by the same anchor investor and long-term Siemens Bank client. Not only does this transaction demonstrate a long-term, service-oriented view to client relationships, it is also another step towards developing Siemens Bank’s leading renewables franchise further, helping to speed up the adoption of green energy in Europe.
France and Italy, like a growing number of countries, have been revising their climate and energy policies, implementing ambitious targets for renewables and energy efficiency to support the energy transition.
