French construction group Vinci SA (DG.PA, VCISY.PK) said Wednesday that it has partnered with French natural gas and electricity supplier GDF Suez SA (GDFZY.PK, GDSZF.PK) and a subsidiary of state-owned financial institution Caisse des Dépôts et Consignations or CDC to submit bids to build and operate wind farms off the French coast.
The French government had invited tenders for five offshore wind-farm projects, encompassing 3,000 MW of wind energy. The five projects would require the installation of between 500 and 600 offshore wind turbines.
The GDF Suez consortium is bidding on four of the five zones identified by the French government as holding potential. The consortium said it will consult Areva SA (ARVCF.PK) and German industrial conglomerate Siemens AG (SIE.DE, SI) for the design and production of the wind farms.
According to media reports, other consortia led by GDF Suez's rival EDF Group SA (EDFEF.PK) and Spain's Iberdola SA (IBDRY.PK) have also submitted bids on Wednesday for a share of the five offshore wind farms planned by France.
GDF Suez is a leading generator of wind energy in France with an installed capacity of over 1,000 MW. The company has set an ambitious wind energy development plan, aiming to reach 2,000 MW installed onshore wind farms by 2016.
VCISY.PK closed Wednesday's trading at $11.19, up $0.12 or 1.08 percent on a volume of 587,439 shares, while GDFZY.PK closed trading at $27.15, down $0.14 or 0.51 percent on a volume of 39,970 shares.
For comments and feedback: editorial@rttnews.com