- EOLFI from France and ACS-Cobra Concesiones from Spain are collaborating on a project for commercial floating windfarms in Taiwan
- Drooms’ virtual data room was used to enable access to confidential documents within the cross-border transaction
- The Taiwanese project represents a strategic step in worldwide ecological transformation
London/Paris – EOLFI, the French pioneer of floating wind farms, and ACS-Cobra Concesiones from Spain have entered into a partnership to ensure and expedite the development of commercial floating windfarm projects in Taiwan. As part of this, Cobra Concesiones has obtained a stake that in the long term will make it the majority shareholder in Eolfi Greater China, a subsidiary of EOLFI.
Founded in 2004, EOLFI has headquarters in France and Taiwan. It is a former subsidiary of the Veolia Environment group. The new cross-border partnership comprises a portfolio of four commercial floating windfarms with a total capacity of 2 GW, which is equivalent to around 300 floating turbines. EOLFI relied on Drooms for the implementation of the project so that due diligence process stakeholders were able to view transaction-relevant documentation securely.
From the very start of the project, Antoine Ecochard, CFO at EOLFI France, had been looking for a reliable, ergonomic solution that needed to meet several criteria. First, all documents relating to assets possessed by EOLFI or EOLFI’s Taiwanese subsidiary, Eolfi Greater China, had to be collated in one central, secure location. Second, the documents had to be viewable for potential European and especially Spanish investors.
Antoine Ecochard comments: “Drooms met our strict selection criteria for this cross-border transaction perfectly: an ergonomic, intuitive virtual data room that allows users and project administrators to access documents immediately. The multilingual technical and commercial team were available throughout the entire transaction, so Drooms offers real added value as a service provider.”
Alexandre Grellier, CEO at Drooms, said: “We are particularly proud to have supported this transaction led by EOLFI. Floating windfarms represent a new, promising technology that can contribute a great deal to ecological transformation. They also have the potential to revolutionise the way we generate energy today.”
