Ports in Occitania undergo huge expansion to support two floating wind farms in the Mediterranean, backed by EU financing
How do you transition to green energy and support economic development in a region with high unemployment? For Occitania, the answer lies in innovative floating wind farms in the Mediterranean.
The region is investing €340 million to refurbish ports in Sète and Port-la-Nouvelle, turning them into hubs for construction, logistics and support for two offshore floating wind farms. The wind farms are expected to cover the energy needs
of 400 000 people. Clean energy produced by the offshore wind farms will eventually be used to produce green hydrogen, another important step in the fight against climate change.
Port-la-Nouvelle traditionally handled shipments of cereals and other agricultural products between Europe and North Africa. Creating a hub for wind farms demands a major revamp of the port’s infrastructure.
“It requires an industrial process and infrastructure that are very different from what we usually do,” says Didier Cordorniou, director of maritime affairs for the Occitania region. Turning the port’s business towards renewable energy offers an opportunity to “revitalise the area’s economy” and create new jobs, he says.
The European Investment Bank, which is owned by the 27 EU member states, is loaning the Occitania region €150 million to remake the ports in Sète and Port-la-Nouvelle. The EIB is also supporting the two pilot floating wind farms, lending €85 million to Eolmed and €75 million to Les Éoliennes Flottantes. Both loans are backed by a guarantee from the European Fund for Strategic Investments.
These deals are just a few of the many investments in France by the European Investment Bank, the European Union’s financing arm. Last year, we invested €11.82 billion in France, which is equal to 0.42% of the country’s entire gross domestic product.
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- Read the full story of the new port infrastructure and floating wind power in the Mediterranean
