Americans search investors to deep offshore wind project

Principie Power, a north American company participated by EDP and Repsol (33% each) is launching in July an operation to secure investors to a pre-commercial offshore wind project in Portugal.

Principal Power expects to raise around €100 million to build a 25MW wind park, in Viana do Castelo, Portugal. The project will be implemented in the next two and a half years.

Principle Power expects to finance the Windfloat project in Portugal through the EIB and commercial banks (up to €60 million) and equity (€40 million) that might come from current investors, investment funds and other new investors.

The Windfloat project is testing a platform that floats in the water, designed specifically to depths of over 25 meters.

In the sole operational offshore project in Portugal, the 2 MW turbine already produced 10 thousand megawatts hour of power.

Source: Jornal de Negócios

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