Q ENERGY Acquires Stake in Pennavel Floating Wind Project in France

Pennavel, the project company responsible for developing a floating offshore wind farm off southern Brittany, France, has welcomed Q ENERGY as a new shareholder. This investment marks Q ENERGY’s entry into the existing consortium, which already includes Elicio France and BayWa r.e. France. By joining the partnership, Q ENERGY strengthens the consortium with additional technical expertise, industry experience, and financial capability, reinforcing the project’s ability to deliver a large-scale renewable energy development. 

The Pennavel project itself is a major floating wind initiative with a planned capacity of approximately 250–270 MW. It was awarded by the French government in 2024 under the country’s first commercial-scale floating offshore wind tender (AO5). Located off the southern coast of Brittany, the project is expected to play a significant role in expanding France’s offshore wind capacity and supplying clean electricity to a large number of households. 

Q ENERGY will join existing shareholders Elicio France and BayWa r.e. with a 33% share of the project. Elicio and BayWa r.e. previously had a 50% share each. Commissioning of the 13-turbine array at South Brittany is scheduled for 2031. The turbines are expected to be over 20MW in capacity.