Global law firm Norton Rose Fulbright advised the French group EOLFI on the acquisition of 100 per cent of its shares by Société des Pétroles Shell, the French subsidiary of the Anglo-Dutch group Shell. The transaction was signed on October 30, 2019.
Created in 2004, EOLFI specialises in creating electricity from renewable energy sources without the use of fossil fuels, such as photovoltaic solar power or wind turbines. EOLFI is recognised as a global pioneer in floating offshore wind power. The company’s projects under development and in operation are mainly located in France and, more recently, in Taiwan and Scotland.
Shell, which has committed to the energy transition, announced this year its goal to become the world leader in electricity production within 10 years. With this transaction, the supermajor continues its strategy of developing its renewable energy offer.
Anne Lapierre, Global Head of Energy at Norton Rose Fulbright, commented:
“We are proud to contribute to this transaction, which marks the junction of two ambitions and promotes the growth of electricity production from renewable sources in France, a strategic market, and abroad.”
Anne Lapierre’s team has already assisted EOLFI on the partnership between EOLFI Greater China, EOLFI’s Taiwanese subsidiary, and Cobra Concesiones, a Spanish industrial company specialising in renewable energies, involving the development of the largest floating wind farm in the world.
Anne Lapierre led the transaction team, assisted by Thomas Chneiweiss.