Watson Farley & Williams (“WFW”) advised independent French green energy operator Valorem on the signing of a long-term power purchase agreement with SNCF Energie, a subsidiary of SNCF, the French national railway company.
This is the largest onshore wind PPA signed in France representing a total volume of 2.4TWh over 25 years. The eight wind turbines of the Cheniers wind farm located in France’s Marne department have a total installed capacity of 36 MW and will generate c. 93 GWh of electricity per year. This capacity equals to the annual power needed for the Paris-Rennes high-speed line or all regional train lines.
A leader in wind power with over 460 employees, Valorem has extensive expertise in the full cycle of renewable energy production, from development and operation to construction and audit services. Active in the French West Indies, Finland, Greece and Poland, it has financed over 837 MW and has a portfolio of 5.7 GW projects under development.
The SNCF group aims to source 40% to 50% of its electricity from green energy for train traction by 2026. By 2027-2028, SNCF should have more than 700 GWh supplied by photovoltaic plants and wind turbines under PPA.
The WFW Paris team advising Valorem was led by Partner Laurent Battoue, supported on regulatory and contractual matters by Associate Juliana Brandao Marques and on the bankability aspects by Partner Laurence Martinez-Bellet and Associate Julie Michelangeli.
