Shell to Boost Floating Wind Expertise Via EOLFI Acquisition

However, the acquisition of EOLFI is subject to regulatory and ministerial approvals, which is expected to be completed during the month of December this year.

With an aim to expand its renewable energy business and to get specialization in floating wind capabilities, Royal Dutch Shell has entered into an agreement to buy 100 percent shareholding in French renewable energy developer EOLFI.

However, the acquisition of EOLFI is subject to regulatory and ministerial approvals, which is expected to be completed during the month of December this year.

The move is significant for Shell, as the company is looking for growing offshore wind business in France.

Commenting on the acquisition, Shell, VP Offshore Wind, Dorine Bosman 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.”

Post completion of acquisition transaction, EOLFI will become the wholly owned subsidiary of Shell, and also it will be fully integrated.

“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,” said Alain Delsupexhe, Founder, EOLFI.

Delsupexhe further added that “joining forces with Shell will enable us to continue our mission of producing renewable and competitive electricity.”

EOLFI, a French pioneer company in floating offshore wind energy, has more than sixty five professionals across its offices in Paris, Lorient, Marseilles and Montpellier. The company has developed more than two hundred onshore and offshore renewable energy projects in five countries.