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'Regret but respect': Shell's short-lived floating wind team reborn | Recharge

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rel="noopener noreferrer" title="Wind" class="dn-link pill tag" data-v-8c016434><!--[--><!----><span class="text" data-v-8c016434>Wind</span><!--]--></a></div><!--[--><h1 class="dn-headline title" data-v-7383efc4><!--[-->'Regret but respect': Shell's short-lived floating wind team reborn<!--]--></h1><!--]--><p class="lead">INTERVIEW | As new venture Oxan looks to the future, Nicolas Paul-Dauphin reflects on his former company Eolfi's brief role in an oil supermajor's energy transition plans</p><figure class="dn-image default article-top-image" data-load="eager"><picture class="ratio-3x2"><!--[--><!--[--><!--[--><source type="webp" srcset="https://images.dngroup.com/image/eyJ3Ijo5ODAsImsiOiJiYTFiYjg4YjE5NTIxYTcyNjA0NGQyYmY2ZjQ5MTAxZSIsImYiOiJ3ZWJwIiwiY3JvcCI6WzE1MCwwLDEyOTksODY0XSwiciI6MS41LCJvIjoiZ2xvYmFsIn0="><!--]--><!--[--><source type="jpeg" srcset="https://images.dngroup.com/image/eyJ3Ijo5ODAsImsiOiJiYTFiYjg4YjE5NTIxYTcyNjA0NGQyYmY2ZjQ5MTAxZSIsImYiOiJqcGVnIiwiY3JvcCI6WzE1MCwwLDEyOTksODY0XSwiciI6MS41LCJvIjoiZ2xvYmFsIn0="><!--]--><!--]--><img alt="Nicolas Paul-Dauphin says despite Shell's shift away from renewables the supermajor treated him and his Eolfi colleagues very well." loading="eager" src="https://images.dngroup.com/image/eyJ3Ijo5ODAsImsiOiJiYTFiYjg4YjE5NTIxYTcyNjA0NGQyYmY2ZjQ5MTAxZSIsImYiOiJ3ZWJwIiwiY3JvcCI6WzE1MCwwLDEyOTksODY0XSwiciI6MS41LCJvIjoiZ2xvYmFsIn0=" fetchpriority="high"><!--]--></picture><figcaption><span class="caption-below-image">Nicolas Paul-Dauphin says despite Shell's shift away from renewables the supermajor treated him and his Eolfi colleagues very well.</span><span class="credit">Photo: Oxan Energy</span></figcaption></figure><div class="dn-meta-data"><!--[--><!--[--><div class="dn-bylines-column" data-list><div class="dn-byline"><!--[--><!--]--><div class="author-content"><div 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data-datetime="2024-08-05T09:34:56+00:00" data-v-ea974056>Updated 5 August 2024, 09:34</span></div><!--[--><a href="https://www.rechargenews.com/tag/Eolfi" rel="noopener noreferrer" title="Eolfi" class="dn-link pill tag" data-v-8c016434><!--[--><!----><span class="text" data-v-8c016434>Eolfi</span><!--]--></a><a href="https://www.rechargenews.com/tag/Shell" rel="noopener noreferrer" title="Shell" class="dn-link pill tag" data-v-8c016434><!--[--><!----><span class="text" data-v-8c016434>Shell</span><!--]--></a><a href="https://www.rechargenews.com/tag/Oxan_Energy" rel="noopener noreferrer" title="Oxan Energy" class="dn-link pill tag" data-v-8c016434><!--[--><!----><span class="text" data-v-8c016434>Oxan Energy</span><!--]--></a><a href="https://www.rechargenews.com/tag/France" rel="noopener noreferrer" title="France" class="dn-link pill tag" data-v-8c016434><!--[--><!----><span class="text" data-v-8c016434>France</span><!--]--></a><a href="https://www.rechargenews.com/tag/Europe" 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To read more about DN Media Group, <a href="https://www.dngroup.com/"> click here</a>. </p><!--]--></div></footer></footer><!--]--><!--]--></div><script type="text/javascript"> if (!window.Zephr) window.Zephr = {}; if (!window.Zephr.outcomes) window.Zephr.outcomes = {}; window.Zephr.outcomes['dn-internal-users'] = { featureLabel: 'DN Internal Users', outcomeId: 'transformation/2', outcomeLabel: 'DN Non Internal Users' }; </script> <div id="teleports"></div><script type="application/json" data-nuxt-data="nuxt-app" data-ssr="true" id="__NUXT_DATA__">[["ShallowReactive",1],{"data":2,"state":4,"once":14,"_errors":15,"serverRendered":8,"path":17,"pinia":18},["ShallowReactive",3],{},["Reactive",5],{"$scolor-mode":6,"$snuxt-i18n-meta":10,"$svue-query":11},{"preference":7,"value":7,"unknown":8,"forced":9},"light",true,false,{},{"mutations":12,"queries":13},[],[],["Set"],["ShallowReactive",16],{},"/wind/regret-but-respect-shells-short-lived-floating-wind-team-reborn/2-1-1686120",["Reactive",19],{"commonStore":20,"articlesStore":25,"profileLoginStore":371},{"isAppView":21,"previousRouteName":23},["EmptyRef",22],"false",["EmptyRef",24],"\"\"",{"currentArticle":26,"loading":367,"articleBodyWithoutInjectElements":368},["Ref",27],["Reactive",28],{"api":29,"id":30,"title":31,"originalTitle":31,"dataLayout":32,"type":33,"subType":33,"state":34,"excludeFromNews":9,"intro":35,"canonicalSlug":17,"publishedAt":36,"firstPublishedAt":36,"updatedAt":36,"leadAsset":37,"body":59,"bodyLength":306,"byline":307,"metadata":320,"topic":331,"tags":332,"categories":352,"relatedCompanies":361,"publication":362,"imagePosition":366,"accessLevel":104,"mobileImagePosition":366},"global-article","2-1-1686120","'Regret but respect': Shell's short-lived floating wind team reborn","text-first","news","published","INTERVIEW | As new venture Oxan looks to the future, Nicolas Paul-Dauphin reflects on his former company Eolfi's brief role in an oil supermajor's energy transition plans","2024-08-05T09:34:56Z",{"type":38,"src":39,"caption":40,"credit":41,"ratio":42,"imageCrops":43,"pointOfInterest":54},"picture","https://images-global.nhst.tech/image/U0QvN3p3VDllcW5CcmVzVGtkdjI1dGE5cTRtemFrUWFBSVNINUMvZ20xZz0=/nhst/binary/ba1bb88b19521a726044d2bf6f49101e","Nicolas Paul-Dauphin says despite Shell's shift away from renewables the supermajor treated him and his Eolfi colleagues very well.","Photo: Oxan Energy","3x2",{"2x1":44,"free":49,"3x2":51},[45,46,47,48],0,68,1600,795,[45,45,47,50],864,[52,45,53,50],150,1299,{"originalWidth":47,"originalHeight":50,"x":55,"y":45,"width":56,"height":57,"centerX":58,"centerY":58},0.23,0.54,1,0.5,[60,63,65,85,87,89,91,95,97,122,124,126,128,130,153,155,157,159,161,164,166,168,191,193,195,197,199,202,204,206,208,210,212,214,222,224,226,228,230],{"type":61,"html":62},"text","Pioneering French floating wind developer Eolfi was snapped up by Shell in 2019 but rapidly fell victim to the supermajor’s pivot back to oil and gas. Now its co-founder Nicolas Paul-Dauphin and his team have been reborn as a new venture, Oxan Energy.",{"type":61,"html":64},"Paul-Dauphin co-founded Eolfi in 2004, with the developer initially focusing on wind and solar before moving into floating wind in 2011.",{"type":66,"header":67,"items":68},"related","",[69],{"type":33,"id":70,"title":71,"url":72,"topic":73,"accessLevel":75,"picture":76},"2-1-700507","Oil supermajor Shell buys French floating wind pioneer Eolfi","https://www.rechargenews.com/wind/oil-supermajor-shell-buys-french-floating-wind-pioneer-eolfi/2-1-700507",{"label":74,"name":74},"Offshore","open",{"type":38,"src":77,"caption":78,"credit":79,"imageCrops":80},"https://images-global.nhst.tech/image/Q2JJVlNEdDROdDJOcnhrL0x3dW1rOHIweWJtbG4ydzZiSzBubDZVQ3BuVT0=/nhst/binary/58b6f04dd4e6c08d318c9196d988137c","CGI of Eolfi wind farm with Naval Energies floating platforms","Naval Energies",{"2x1":81},[45,82,83,84],216,2400,1195,{"type":61,"html":86},"“We believed at that time that floating would be the next big thing in renewables,” he said. “The future of wind was offshore” and beyond the North Sea and its shallow waters, he realised that many other parts of the world would have to use floating wind.",{"type":61,"html":88},"Eolfi was heavily involved in the early days of French floating wind, said Paul-Dauphin, working with a state agency to create a public auction and then helping set up a pioneering commercial tender.",{"type":61,"html":90},"Eolfi was also active in other geographies, including Taiwan and Japan, but by 2019 Paul-Dauphin said the market was becoming “a bit too expensive for us,” prompting the \u003Ca href=\"https://www.rechargenews.com/wind/oil-supermajor-shell-buys-french-floating-wind-pioneer-eolfi/2-1-700507\">\u003Cb>takeover by Shell\u003C/b>\u003C/a> that same year, amid interest from several major utilities and oil and gas players.",{"type":92,"injected":8,"id":93,"label":94,"minHeight":-1,"class":-1},"ad","recharge_netboard-article-1","Article continues below the advert",{"type":61,"html":96},"It was hoped that the floating wind expertise of Eolfi combined with Shell’s offshore expertise and global footprint could take the team to the next level, while the takeover was also hailed as a sign of the fossil fuel industry broadening its offshore wind focus.",{"type":66,"header":67,"items":98},[99],{"type":33,"id":100,"title":101,"url":102,"topic":103,"accessLevel":104,"picture":105},"2-1-1680375","Developer working with China's Mingyang on UK wind project says 'benefits outweigh risks'","https://www.rechargenews.com/wind/developer-working-with-chinas-mingyang-on-uk-wind-project-says-benefits-outweigh-risks/2-1-1680375",{"label":74,"name":74},"paywall",{"type":38,"src":106,"caption":107,"credit":108,"ratio":42,"imageCrops":109,"pointOfInterest":118},"https://images-global.nhst.tech/image/Z3lld0hlYnJKOTlHUFhCY0Uvdk83ZGE5cTRtemFrUWFBSVNINUMvZ20xZz0=/nhst/binary/a800cb992c2acf022bf26e29a31d6e47","Hexicon's TwinWind concept.","Photo: Hexicon",{"2x1":110,"free":113,"3x2":115},[45,111,47,112],48,797,[45,45,47,114],894,[116,45,117,114],125,1344,{"originalWidth":47,"originalHeight":114,"x":119,"y":45,"width":120,"height":57,"centerX":121,"centerY":58},0.22,0.55875,0.499375,{"type":61,"html":123},"After weathering the Covid-19 pandemic, which broke out soon after the merger, the Eolfi team helped Shell and its partner ScottishPower, an Iberdrola subsidiary, \u003Ca href=\"https://www.rechargenews.com/wind/power-and-oil-giants-win-big-as-1bn-scotwind-puts-scotland-in-global-offshore-forefront/2-1-1146196\">\u003Cb>win 5GW of floating wind capacity\u003C/b>\u003C/a> in the landmark ScotWind auction at the start of 2022.",{"type":61,"html":125},"Paul-Dauphin recalled how the Shell press release still also used the Eolfi name. “It was very nice for us because Eolfi was 100% Shell, so they should have quoted only Shell, but they quoted Eolfi.”",{"type":61,"html":127},"A month later, however, came the event that may have ultimately sealed the Eolfi team’s fate at Shell, as Russian tanks rolled into Ukraine sparking all-out war between the neighbours.",{"type":61,"html":129},"The resulting energy crisis as much of Europe went cold turkey on Russian gas sent fossil fuel-related profits at supermajors such as Shell soaring, prompting them to refocus on their core oil and gas businesses.",{"type":66,"header":67,"items":131},[132],{"type":33,"id":133,"title":134,"url":135,"topic":136,"accessLevel":104,"picture":137},"2-1-1675893","'Size matters': how TotalEnergies plans to make German offshore wind pay","https://www.rechargenews.com/wind/size-matters-how-totalenergies-plans-to-make-german-offshore-wind-pay/2-1-1675893",{"label":74,"name":74},{"type":38,"src":138,"caption":139,"credit":140,"ratio":42,"imageCrops":141,"pointOfInterest":149},"https://images-global.nhst.tech/image/Z2JwZmllL1BhWEpSNXFHSkR2OTllZ05paFlUQlE2NC8xMEc1d0xKMytHQT0=/nhst/binary/ededbbfcd07e06ca4816b72c4e64606e","Stefan Kansy, business development director for offshore wind at TotalEnergies.","Photo: TotalEnergies",{"2x1":142,"free":145,"3x2":146},[45,143,47,144],959,799,[45,45,47,83],[45,147,47,148],857,1065,{"originalWidth":47,"originalHeight":83,"x":45,"y":150,"width":57,"height":151,"centerX":58,"centerY":152},0.165833,0.666667,0.499167,{"type":61,"html":154},"In September, just months after the ScotWind success, Paul-Dauphin said Shell decided to pull out of the Groix and Belle-Ile floating wind pilot project in France that it had inherited from Eolfi, which had been selected by the government for the project in 2016.",{"type":92,"injected":8,"id":156,"label":94,"minHeight":-1,"class":-1},"recharge_netboard-article-2",{"type":61,"html":158},"Paul-Dauphin said he and Shell both decided after that withdrawal – \u003Ca href=\"https://www.rechargenews.com/wind/shell-quits-french-floating-wind-pilot-as-costs-and-constraints-raise-viability-doubts/2-1-1357293\">\u003Cb>made public the following year\u003C/b>\u003C/a> – that it would be best if he looked to see if the “grass was greener” elsewhere. He left in February 2023.",{"type":61,"html":160},"Several high-profile renewable energy executives left Shell soon after. Most prominently, Thomas Brostrom, the former Orsted high-flyer recruited to lead Shell’s push into offshore wind, \u003Ca href=\"https://www.rechargenews.com/markets/shell-renewables-chief-thomas-brostrom-quits-supermajor-after-less-than-two-years/2-1-1478501\">\u003Cb>left after a restructuring\u003C/b>\u003C/a> effectively downgraded his position.",{"type":162,"value":163},"subhead","Mission to save ‘good engineers with no future at Shell’",{"type":61,"html":165},"By that time, Paul-Dauphin was working with Oxan backer SWEN Capital Partners, a French infrastructure fund, who gave the new developer €30m ($32m) to get things off the ground.",{"type":61,"html":167},"The idea for launching Oxan came as Paul-Dauphin said he had seen a “pack of very good engineers with no future inside Shell.",{"type":66,"header":67,"items":169},[170],{"type":33,"id":171,"title":172,"url":173,"topic":174,"accessLevel":104,"picture":176},"2-1-1667814","BP hits offshore wind pause button in strategy shift: report","https://www.rechargenews.com/wind/bp-hits-offshore-wind-pause-button-in-strategy-shift-report/2-1-1667814",{"label":175,"name":175},"Markets",{"type":38,"src":177,"caption":178,"credit":179,"ratio":42,"imageCrops":180,"pointOfInterest":188},"https://images-global.nhst.tech/image/K0dCSGVQQjI4bDcvb0JrVUJJRzNpTmE5cTRtemFrUWFBSVNINUMvZ20xZz0=/nhst/binary/9b833b2cef3a6296e677f352979b735b","BP CEO Murray Auchincloss.","Photo: BP",{"2x1":181,"free":184,"3x2":186},[45,182,47,183],52,798,[45,45,47,185],900,[116,45,187,185],1349,{"originalWidth":47,"originalHeight":185,"x":189,"y":45,"width":190,"height":57,"centerX":58,"centerY":58},0.21875,0.5625,{"type":61,"html":192},"“It was either they go to the competition,” or, as Paul-Dauphin managed to achieve, that he could find a way to “give them a salary and to start again” at Oxan, where he is CEO.",{"type":61,"html":194},"As of now, all but two of the 21-strong Oxan team are former Eolfi employees. “We all know each other well,” said Paul-Dauphin. “We trust each other, so we are very efficient.”",{"type":61,"html":196},"He compared the team to US Navy SEALs: “We all know what we have to do and we go straight to the point.”",{"type":61,"html":198},"Equally, he said, “we know that we also want to have fun… it’s a very nice experience.”",{"type":200,"quote":201,"author":67},"quote","They bought Eolfi and in a sense they destroyed Eolfi. But if you look at it another way they have been very careful with us.",{"type":61,"html":203},"Oxan is now eyeing up floating wind opportunities in various European markets, including France, Portugal, the UK, Italy and Norway. As well as providing the team’s considerable expertise, he said Oxan can also provide equity in projects, around 20-30% being ideal.",{"type":61,"html":205},"Oxan launched in May last year but was operating “under the radar” until its official launch in March as it hired staff and pulled together the foundations of the company.",{"type":162,"value":207},"‘I regret Shell’s decision, but I respect it’",{"type":61,"html":209},"Paul-Dauphin is clear that, despite his team’s short-lived time at Shell, he has no regrets about joining.",{"type":61,"html":211},"“If I had to redo it with the same information that I had at the time, I would do exactly the same.”",{"type":61,"html":213},"Paul-Dauphin stressed he was “very happy” with his years at Shell. “Of course, I regret their strategic move [out of floating wind]… but it’s their choice and I do respect it.”",{"type":215,"promoboxType":33,"template":216,"view":67,"design":217,"title":218,"selectedImage":67,"hideImage":9,"text":219,"buttonLabel":220,"url":221},"promobox","Recharge app","blue","Get the Recharge News App","Read high quality news and insight on the energy transition on-the-go","Download Now","https://www.rechargenews.com/app",{"type":61,"html":223},"“They bought Eolfi and in a sense they destroyed Eolfi,” he said. “But if you look at it another way they have been very careful with us. They have acted in a very good way.”",{"type":61,"html":225},"“I want to be very cautious not to say something that Shell would dislike because they do not deserve it.”",{"type":61,"html":227},"Shell, meanwhile, apparently continues its trajectory away from floating wind, with reports that it is looking at \u003Ca href=\"https://www.rechargenews.com/wind/shell-seeks-exit-from-giant-scottish-floating-wind-projects-with-iberdrola-report/2-1-1681588\">selling its share\u003C/a> in the up to 5GW of ScotWind projects.",{"type":61,"html":229},"The supermajor recently sold off the remaining components of Eolfi that focused on onshore wind and solar.",{"type":66,"header":67,"items":231},[232,252,272,287],{"type":33,"id":233,"title":234,"url":235,"topic":236,"accessLevel":104,"picture":237},"2-1-1686834","Vestas vs Goldwind: Danes to wrestle back turbine top spot next decade, says WoodMac","https://www.rechargenews.com/wind/vestas-vs-goldwind-danes-to-wrestle-back-turbine-top-spot-next-decade-says-woodmac/2-1-1686834",{"label":175,"name":175},{"type":38,"src":238,"caption":239,"credit":240,"ratio":42,"imageCrops":241,"pointOfInterest":248},"https://images-global.nhst.tech/image/V2pvS2dua1JFUVphWkdUSTdBcm9sVVRDWG9ZbWtaWWp1TEhUUlM1UEhYQT0=/nhst/binary/ec086e3ff4b8f49b62e11af53509574e","Vestas CEO Henrik Andersen.","Photo: Vestas",{"2x1":242,"free":244,"3x2":246},[45,243,47,112],4,[45,45,47,245],1066,[45,243,47,247],1061,{"originalWidth":47,"originalHeight":245,"x":249,"y":45,"width":250,"height":57,"centerX":251,"centerY":58},0.1675,0.66625,0.500625,{"type":33,"id":253,"title":254,"url":255,"topic":256,"accessLevel":104,"picture":257},"2-1-1686933","Iberdrola $2.7bn swoop adds Manchester to vast UK power base","https://www.rechargenews.com/energy-transition/iberdrola-2-7bn-swoop-adds-manchester-to-vast-uk-power-base/2-1-1686933",{"label":175,"name":175},{"type":38,"src":258,"caption":259,"credit":260,"ratio":42,"imageCrops":261,"pointOfInterest":269},"https://images-global.nhst.tech/image/ZjZIZWltMTJpVXZJNE81SVlMc0tKTDJ5SFRWek8vZ0xoQ0g5dTVRZEsyOD0=/nhst/binary/6a2fa0f38871b835bc5f9227e87f9934","Iberdrola CEO Ignacio Galan.","Photo: Iberdrola",{"2x1":262,"free":264,"3x2":266},[45,263,47,112],394,[45,45,47,265],1586,[45,267,47,268],100,1062,{"originalWidth":47,"originalHeight":265,"x":270,"y":45,"width":271,"height":57,"centerX":121,"centerY":58},0.00375,0.99125,{"type":33,"id":273,"title":274,"url":275,"topic":276,"accessLevel":104,"picture":277},"2-1-1686192","Costs soar to $715m for US’ only wind installation vessel on new turbine specs and financing","https://www.rechargenews.com/wind/costs-soar-to-715m-for-us-only-wind-installation-vessel-on-new-turbine-specs-and-financing/2-1-1686192",{"label":74,"name":74},{"type":38,"src":278,"caption":279,"credit":280,"ratio":42,"imageCrops":281,"pointOfInterest":284},"https://images-global.nhst.tech/image/Q2JJVlNEdDROdDJOcnhrL0x3dW1rOHIweWJtbG4ydzZiSzBubDZVQ3BuVT0=/nhst/binary/aa26debe3efbe1983a4f36dd67bfb665","BOEM director Elizabeth Klein, front left, with other officials tours the Charybdis worksite.","Photo: Bureau of Ocean Energy Management",{"2x1":282},[45,283,47,183],194,{"originalWidth":47,"originalHeight":285,"x":249,"y":45,"width":286,"height":57,"centerX":58,"centerY":58},1064,0.665,{"type":33,"id":288,"title":289,"url":290,"topic":291,"accessLevel":104,"picture":292},"2-1-1685796","Philip takes Siemens Gamesa hot seat as boss warns 'no room for more errors' at wind giant","https://www.rechargenews.com/wind/philip-takes-siemens-gamesa-hot-seat-as-boss-warns-no-room-for-more-errors-at-wind-giant/2-1-1685796",{"label":175,"name":175},{"type":38,"src":293,"caption":294,"credit":295,"ratio":42,"imageCrops":296,"pointOfInterest":303},"https://images-global.nhst.tech/image/MldQWDFFOUpOYWNjaExDc0Uzd2FLRVRDWG9ZbWtaWWp1TEhUUlM1UEhYQT0=/nhst/binary/a4e64aeca51e561b762f14e409eeea87","Vinod Philip takes over as Siemens Gamesa chief.","Photo: Siemens Energy",{"2x1":297,"free":299,"3x2":301},[45,298,47,183],24,[45,45,47,300],1068,[45,243,47,302],1063,{"originalWidth":47,"originalHeight":300,"x":304,"y":45,"width":305,"height":57,"centerX":58,"centerY":58},0.16625,0.6675,37,{"authors":308,"options":319},[309],{"type":310,"name":311,"source":312,"sourceId":313,"email":314,"userName":315,"hasAuthorPage":9,"options":316},"author","Cosmo Sanderson","drpublish","11992","cosmo.sanderson@rechargenews.com","c_sanderson",{"alternativeBylineProfileText":317,"profileTitle":318},"Cosmo Sanderson is a Digital Energy Journalist at Recharge, covering wind power and other key energy transition technologies, including storage","Journalist",{"signOffText":67,"publishedLocation":67},{"scheduledDateOnPrint":67,"DataLayout":32,"lockedForEditing":9,"syncWithDeskNet":9,"digitalPriority":67,"publishedPrint":9,"sourcePackageType":321,"importBatchId":67,"printReady":67,"referrerAccess":9,"push":322,"pageNumberPrint":45,"actualPrintDate":67,"paywallContentSize":323,"kickerStyle":67,"pushMessage":31,"mainCategory":324,"topic":325,"theme":326,"sourceArticleType":327,"page":45,"pids":328,"escenicSourceId":330},"News","recommended","Short (50 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