Q Energy, Elicio, and BayWa r.e. invest in Pennavel 250 MW floating offshore wind farm in Brittany, France

Q Energy, Elicio, and BayWa r.e. finalized a capital opening agreement to jointly invest in the 250 MW capacity Pennavel floating offshore wind farm located in southern Brittany, France. The three shareholders now hold equal stakes in the project, with Q Energy contributing technical, human, and industrial expertise to strengthen Pennavel’s governance and operational capabilities. Elicio, headquartered in Belgium, brings over 2.2 GW of offshore wind projects under development and in operation across Europe, while BayWa r.e. has commissioned more than 6 GW of renewable energy projects globally. Q Energy, a subsidiary of Korean industrial group Hanwha, specializes in wind and photovoltaic projects and is a pioneer in offshore wind, with additional activity in energy storage markets. Watson Farley & Williams’ Paris Energy team advised Elicio and BayWa r.e. on the transaction, led by Public Law and Regulatory Partner Laurent Battoue, Corporate/M&A Partner Thomas Rabain, and Associate Amandine Collard.

Counterparts (4)

Investor

Q ENERGY

company

Berlin-based renewable energy developer with over 20 years of experience across Europe, operating solar, wind (onshore and offshore), battery storage, and green hydrogen projects. Active in Germany, France, Spain, and Portugal with full-service capabilities from development to operations.

Elicio

company

Elicio is a Belgian renewable energy producer and developer with over 1.2 GW of installed capacity, primarily focused on onshore and offshore wind assets across Belgium, France, Italy, and other European markets, including the 487 MW SeaMade offshore wind farm.

Watson Farley & Williams

company

Watson Farley & Williams (WFW) is an international law firm specializing in the energy, infrastructure, and transport sectors. Founded in 1982, the firm provides comprehensive legal advice on complex, high-value transactions and disputes globally, leveraging its extensive sector expertise and international network of 19 offices.

BayWa r.e.

company

BayWa r.e. is a leading global renewable energy developer, service provider, distributor and energy solutions provider. They are active in solar, wind, and energy storage, developing, constructing, and operating renewable energy projects.