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Shell buys floating wind firm EOLFI

Nov 06, 2019
2 min read
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Shell has signed an agreement to buy 100 per cent of EOLFI, a French renewable energies developer specialised in floating wind projects that helps boost Shell’s renewable power business.

The acquisition is subject to regulatory and ministerial approvals and is expected to complete in Dec 2019.

The deal will see Shell bring in 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."

Upon completion EOLFI will be a wholly owned subsidiary of Shell and will be fully integrated.