Design, construction, financing and operation of a 24MW floating offshore windfarm located off the coast of Faraman (Provence-Alpes-Côte d'Azur, France).The project is sponsored by EDF Renewables and Enbridge Eolien France 2, a subsidiary of Enbridge and CPP Investments. A source close to the deal indicates that the project has raised €286.5 million of debt, as well as €108 million of subsidies. Lenders on the transaction include BNP Paribas, Credit Agricole, Natixis, Societe Generale, Caisse d’Epargne, MUFG, Rabobank, Santander, and the EIB. The subsidies are provided by the European Commission (a €25 million NER 300 subsidy), the European Regional Development Fund (ERDF) (€5 million), and Agence de l'Environnement et de la Maîtrise de l'Énergie (ADEME) (€78 million).The project financing is structured as a club deal and comprises a €130.7 million term loan from the commercial banks, a €47.7 million term loan from the EIB, a €6.8 million standby facility (commercial banks), a €2.3 million standby facility (EIB), a €5 million working capital facility (WCF), a €4 million revolving VAT facility, a €13.5 million L/C facility, a €9 million debt service reserve facility (DSRF), and a €67.6 million equity bridge loan. The term loans, standby facilities, DSRF, L/C facility, and WCF have a door-to-door maturity of twenty years and two months, while the revolving VAT facility has a tenor of up to five years and the equity bridge loan has a tenor of up to two years and eight months. Clifford Chance is legal adviser to the sponsors, while Linklaters is counsel to the lenders.The project has a twenty-year feed-in tariff priced at €240/MWh, with an indexation coefficient applied annually. PGL is one of four pilot projects designed to test the commercial viability of floating offshore wind in the French market. The project is expected to be commissioned in 2023.