KfW IPEX bank is leading a consortium to finance the 30MW Gulf of Lyon floating wind pilot array in the French part of the Mediterranean Sea – the first floating project the German export bank has backed.

The group also includes Crédit Agricole CIB, Banco Santander, Mizuho and the European Investment Bank (EIB), while the Danish export credit agency EKF is securing part of the financing.

"We see enormous potential in floating offshore wind farms," said Velibor Marjanovic, member of KfW IPEX’s management board.