Published: 08 November 2018 08 November 2018
DNV GL has completed a lenders’ technical due diligence on the 25MW Windfloat Atlantic project. The project is the first project-financed floating wind farm and the European Investment Bank has announced its intention to provide a €60 million loan to the Portuguese company Windplus.
The project, which is located about 20 km of Costa Viana do Castelo, Portugal is currently under construction and set to become operational in 2019. It consists of an array of three 8.4MW MHI Vestas turbines. Each turbine will operate on a Windfloat floating platform, a design comprising a moored semi-submersible platform. Working in close collaboration with the company behind the project, Windplus, DNV GL conducted an energy yield assessment and undertook a technical due diligence study on all aspects of the floating offshore wind farm with special focus on the risks associated with this new and promising technology. Windplus is a joint venture of of EDP Renewables (79.4%), Repsol (19.4%) and Principle Power (1.2%).