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Shell to Acquire EOLFI to Expand its Renewable Power Business

Power News - Published on Fri, 08 Nov 2019

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Shell has signed an agreement to buy 100% of EOLFI, a French renewable energies developer specialised in floating wind projects. The acquisition is subject to regulatory and ministerial approvals and is expected to complete in Dec 2019. 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. Upon completion EOLFI will be a wholly owned subsidiary of Shell and will be fully integrated.

Mr Dorine Bosman, VP Offshore Wind Shell said that “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.”

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Posted By : Rabi Wangkhem on Fri, 08 Nov 2019
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