This new shareholder strengthens the consortium, composed of Elicio France and BayWa r.e. France, with complementary experience, technical, and human skills. Its arrival is a continuation of the work and commitments carried out for more than 18 months by the Pennavel team with the continuous support of its shareholders. It reinforces Pennavel’s ability to carry out a major energy project that creates value on economic, industrial, and ecological levels.

As a new shareholder of Pennavel, Q ENERGY reinforces the project’s ambition to contribute to the structuring of a local, sustainable, and competitive floating wind energy industry, recently reinforced by the renewal of the ‘Breizh content’ label. Pennavel reaffirms all the commitments made to its partners, institutional, economic, and associative shareholders, in a dynamic of dialogue, continuous consultation, rigorous consideration of anthropogenic and ecological issues, and creation of sustainable value for the Breton territory.

Jérôme Hilt, Director of the Pennavel project, commented: “The arrival of Q ENERGY is a strong signal for Pennavel. It confirms the solidity of its fundamentals and the relevance of the work undertaken for more than 18 months by the team. We are delighted to welcome a new experienced shareholder who shares our values and our commitments to a pioneering, ecological, and value-creating project.”

Q ENERGY has been a long-standing presence in the French market and has been a pioneer in the development of offshore wind power for more than 20 years. In 2012, Q ENERGY was the winner of the Ailes Marines consortium in the first call for tenders for one of the first French offshore wind farms, in the bay of Saint-Brieuc. Consisting of 62 wind turbines for a total capacity of 496 MW, this project, commissioned in 2024, was developed by Q ENERGY and its partners up to the construction phase.

A subsidiary of the Korean industrial group, Hanwha, Q ENERGY also benefits from unique synergies with Hanwha Ocean, a major player in global shipbuilding, particularly in the field of specialised vessels for offshore wind power.

Ken Ilacqua, Offshore Director of Q ENERGY, noted: “We chose to join Pennavel for the quality of the project, the solidity of its foundations, and its strong territorial roots. It is a mature project, structured and aligned with our vision for the development of offshore wind power in France. We are pleased to be committed to working alongside Pennavel’s teams to contribute to its success.”

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Read the article online at: https://www.energyglobal.com/wind/18032026/pennavel-announces-q-energys-acquisition-of-a-stake-in-its-capital/