Watson Farley & Williams (“WFW”) advised Elicio and BayWa r.e. on their capital opening to Q Energy for a stake in the 250 MW capacity Pennavel floating offshore wind farm in southern Brittany, France.
Capital for the project is now equally divided between the three shareholders. This strategic partnership strengthens Pennavel’s governance and operational capabilities, with the entry of Q Energy bringing complementary technical, human and industrial expertise, further reinforcing the project’s strengths at a key stage in its development.
Headquartered in Belgium, Elicio develops, finances, builds and operates renewable energy projects, and counts over 2.2 GW of offshore wind projects under development and in operation across Europe.
BayWa r.e. is an international developer of wind, solar and battery storage projects. BayWa r.e. has commissioned 6+ GW of renewable energy projects.
Q Energy is a subsidiary of Korean industrial group Hanwha, specialising in the development, construction and operation of wind and photovoltaic projects. Q Energy is among the pioneers in offshore wind and also active in the energy storage market.
The WFW Paris Energy team that advised Elicio and BayWa r.e. was led by Public Law and Regulatory Partner Laurent Battoue, supported by Corporate/M&A Partner Thomas Rabain and Associate Amandine Collard.
