Principle Power lands $43m funding double for WindFloat

WindFloat Pacific is in the running to be the first multi-turbine floating wind development off the US

Floating wind turbine designer Principle Power has landed funding of about $43m thanks to back-to-back grants from the US Department of Energy (DoE) and the EU’s NER300 technology development programme.

The company – which is currently testing its flagship 2MW WindFloat 1 semisubmersible unit off north Portugal for the EDP-led WindPlus group – was one of seven favoured in the DoE’s $28m offshore wind funding round this week, receiving $4m to flesh out plans for a 30MW floating wind-farm off Oregon in the Pacific Ocean.

It followed up yesterday with a €30m ($39.2m) NER300 windfall to be put toward building a 27MW array off Portugal.

“The WindFloat reduces levelised energy costs, eliminates many installation/environmental risks, and accesses much more robust wind Log in to read complete article.

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