In October 2010, Crédit Agricole CIB in Belgium acted as sole mandated lead arranger for a EUR 38 million and 3-year performance bond on behalf of DEME, also known as Dredging International or Baggerwerken Decloedt & Zn.

This operation supports the “C-Power” project, C-Power NV being the project developer for the first offshore wind farm in the Belgian North Sea. It will allow Belgium to achieve 10% of the European objectives in terms of green energy production: to reach 13% renewable energy by 2020.

The related financing is the largest ever to be closed in the offshore sector and the first transaction where banks finance the installation and operation of 6MW offshore wind turbines. The use of these turbines will be a world première: they are more powerful than the existing 5MW ones.

DEME is one of the four largest dredging companies in the world.
C-Power is owned by a group of four reputable Belgian shareholders: SRIW Environnement, Socofe, Nuhma, DEME, and two European strategic partners EDF-EN and RWE Innogy.