Shell buying French floating wind farm developer
Oil and gas major Shell is buying EOLFI, a French company specializing in floating wind farm project.
“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,” Shell said. According to Shell, the transaction is expected to close in December 2019.
Eolfi and partners are developing a pilot floating wind project in France, off the coast of Brittany. Pending approvals, according to Eolfi, the project will see the installation of three wind turbines on semi-submersible floats in the water depth where fixed turbine foundations are not suitable.
According to Eolfi, 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.
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, which employs 65 people, has developed over 200 onshore and offshore renewable energy projects in 5 countries. Since 2012, EOLFI has specialized in floating offshore wind power.
News of Shell’s EOLFI acquisition comes just days after another oil company Equinor signed contracts totaling a $357.6 million for the Hywind Tampen floating offshore wind farm development in the Norwegian North Sea. The project will supply electrical power to the nearby oil and gas platforms Gullfaks A, B, C and Snorre A and B in the North Sea.
Offshore Energy Today Staff
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