SHELL ACQUIRES EOLFI BOOSTING ITS RENEWABLE POWER BUSINESS
Shell has signed an agreement to buy 100% of EOLFI, a French renewable energies developer specialized 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.
Created in Paris in 2004, the EOLFI group specialises in creating electricity from renewable energy sources, like photovoltaic solar power or wind turbines, without the use of fossil fuels(Source: Eolfi)