Shell, which is already involved in the bottom-fixed offshore wind market, and is planning a floating wind project offshore South Korea, has agreed to acquire Eolfi in France, boosting its floating wind capability and expanding its renewable power business
It has signed an agreement to buy 100% of Eolfi, a developer that specialises in floating wind projects. The acquisition is subject to regulatory and ministerial approvals and is expected to complete in December 2019. On completion of the deal, Eolfi will be a wholly-owned subsidiary of Shell and will be fully integrated.
Earlier this year, the energy major entered into an agreement to build a floating windfarm offshore South Korea with the developer of a twin-turbine floating wind concept. CoensHexicon Co in South Korea will partner with Shell to develop, construct and operate a floating windfarm approximately 40 km offshore from the city of Ulsan.
Shell offshore wind vice president Dorine Bosman said, “The 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 an opportunity to grow the offshore wind business.
“Eolfi has been a pioneer of floating wind development and we believe combining its expertise and portfolio with Shell’s resources and ability to scale-up will help make electricity a significant business for Shell.”
Eolfi’s founder Alain Delsupexhe said the company was becoming part of Shell group at a time when the market of floating wind is taking off globally.
“Since our creation in 2004, Eolfi has been a pioneer in renewable power. Our 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 Shell New Energies. Joining forces with Shell will enable us to continue our mission of producing renewable and competitive electricity.”
Eolfi and partners are developing a pilot floating wind project in France, Groix & Belle-Île, off the coast of Brittany. Pending approvals, the project will see the installation of three wind turbines on semi-submersible floaters.
The Groix and Belle-Île project includes several partners, including project company FEFGBI, shareholders CGN Europe Energy, la Banque des Territoires, Eolfi and Naval Energies. Naval Energies is providing the semi-submersible floating platform for the turbines. MHI Vestas was confirmed as the preferred supplier for the turbines for the Groix and Belle-Île floating windfarm in October 2019.