The acquisition of EOLFI is subject to regulatory and ministerial approvals and is expected to be completed next month.
EOLFI has developed a pilot floating wind project in France, off the coast of Brittany with its partners, which will see the installation of three turbines on semi-submersible floats in water depth where fixed turbine foundations are not suitable, subject to approvals.
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.”
The French company will be a wholly-owned subsidiary of Shell following the approvals.