Principle Power has signed an agreement with Energias de Portugal for the phased development of a deep-water offshore wind power project sited of the coast of Portugal using the WindFloat system.
WindFloat, owned by Principle Power, is a proprietary floating foundation for offshore wind turbines with a simple design. The new features of the WindFloat reportedly dampen wave and turbine induced motion, enabling wind turbines to be sited in previously inaccessible locations where water depth exceeds 50m and wind resources are superior.
The terms of the agreement call for Principle Power and Energias de Portugal (EDP) to co-develop a three-phased offshore wind power project of the coast of Portugal. Phase-1 will consist of the fabrication and installation of a single WindFloat for technology demonstration purposes.
Following the successful completion and assessment of the demonstration unit, Phase-2 and Phase-3 will consist of a pre-commercial and commercial deployment respectively, making use of shared infrastructure and development from previous phases. The project will have several equity participants including both Principle Power and EDP.
Alla Weinstein, CEO of Principle Power said: “As the fourth largest wind energy producer in the world, EDP continues to show their engagement and foresight in the development of offshore wind markets, enabling technology and global renewable energy production.”
