The tie-up, slated to run to 2018, will focus on further reduction of floating wind's levelised cost of energy, to keep Principle Power's WindFloat semisubmersible platform technology "in line with global price targets for commercial offshore wind projects".
"This transaction represents a major step towards reinforcing the investors base of Principle Power," Principle Power chief executive Joao Metelo tells Recharge.
"It is an important part of the current investment round, which we continue to pursue, key to supporting an accelerated path towards commercialisation, while keeping the WindFloat leadership position in the market."
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