Shell Buys EOLFI

Shell has signed an agreement to acquire French floating offshore wind developer EOLFI.

The acquisition, subject to regulatory and ministerial approvals, is expected to be completed in December, after which EOLFI will be a wholly-owned subsidiary of Shell and will be fully integrated.

Shell said it sees the acquisition as an opportunity to leverage its offshore experience and project management expertise, as well as a significant step in France where there are opportunities to grow the offshore wind business.

“EOLFI joins the Shell group at the time when the market of floating wind is taking off globally,” said Alain Delsupexhe, Founder of EOLFI.

“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.”

To remind, EOLFI is part of a consortium that is developing the 28.5MW Groix & Belle-Île pilot floating wind project off the coast of Brittany. The project will comprise three MHI Vestas 9.5MW turbines installed about 22km from the French coast.