Shell agrees to acquire EOLFI, boosting its floating wind capabilities and expanding its renewable power business
Nov 5, 2019
Shell has signed an agreement to buy 100% of EOLFI, a French renewable energy developer specialised in floating wind projects. The acquisition is subject to regulatory and ministerial approvals and is expected to complete in Dec 2019.
This acquisition brings specialist expertise to enhance Shell’s existing wind team and a floating wind pilot project which is an opportunity to leverage our offshore experience and project management expertise. This is also a significant step for Shell in France, where Shell sees opportunity to grow the offshore wind business.
Dorine Bosman, VP Offshore Wind Shell said, “EOLFI has been a pioneer of floating wind development. We believe the union of EOLFI’s expertise and portfolio with Shell’s resources and ability to scale-up will help make electricity a significant business for Shell.”
Alain Delsupexhe, Founder of EOLFI said, "EOLFI joins the Shell group at the time when the market of floating wind is taking off globally. Since our creation in 2004, EOLFI has been a pioneer in renewable power. EOLFI’s heritage in floating wind combined with Shell’s offshore expertise and global footprint will enable us to expand offshore, but also onshore with our wind and solar photovoltaic projects as part of the Shell New Energies division. Joining forces with Shell will enable us to continue our mission of producing renewable and competitive electricity."
EOLFI has over 65 professionals across offices in Paris, Lorient, Marseilles and Montpellier. They have developed over 200 onshore and offshore renewable energy projects in 5 countries. Since 2012, EOLFI has specialised in floating offshore wind power.
Eolfi and partners are developing a pilot floating wind project in France, off the coast of Brittany. Pending approvals, this project will see the installation of three wind turbines on semi-submersible floats in water depth where fixed turbine foundations are not suitable. The development of floating wind technology could open up access to more locations for offshore wind, including zones with strong stable winds that are further from shore.
Upon completion EOLFI will be a wholly owned subsidiary of Shell and will be fully integrated.
Notes to editors:
About Shell in France
The Shell Group celebrates its centenary in France this year. Société des Pétroles Shell ("Shell France"), a subsidiary of Royal Dutch Shell, markets petroleum products and services: automotive and aviation fuels and biofuels, lubricants for individuals and professionals, bitumen, and mobility services. It has about 90 retail sites on motorways and expressways as well as a lubricant plant in Nanterre. In 2017, a New Energy team was created in France, with the aim of developing renewable energy activities throughout the country.
Shell New Energies
Shell’s New Energies focuses on two main areas: new fuels for transport – such as advanced biofuels and hydrogen – and power, which includes solar and wind power. Shell is working to build its electricity business, from generating it, to buying and selling it, to supplying it directly to customers as part of its strategy to provide more and cleaner energy as the global energy system changes. Shell has interests in four operational onshore wind power projects in the USA, an operational offshore wind project in the Netherlands and three offshore wind projects in development around the world. The combined total installed capacity of these projects is approximately five gigawatts. For more information, go to: www.shell.com/newenergies
Based in Brittany (Lorient), on the Mediterranean regions (Marseilles and Montpellier) with its headquarter in Paris, France, EOLFI is a renewable energies project developer and power producer strong of over 65 experts. EOLFI covers the entire renewable value chain: from site qualification to operation of offshore floating wind projects in France and abroad, as well as onshore wind and solar photovoltaic projects in France. Created in 2004, EOLFI has been building an expertise and focusing on floating offshore wind since 2012. It is considered as one of the frontrunners in floating offshore wind worldwide. www.eolfi.com
Royal Dutch Shell plc
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