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The European Investment Bank (EIB) has granted a € 60 million loan to Windplus, a subsidiary of EDP Renováveis (79.4%), Repsol (19.4%) and Principle Power (1.2%). The company plans to build and operate an offshore floating wind farm, using semisubmersible platforms located off the northern coast of Portugal, 20 km from Viana do Castelo at a depth of 85-100 metres.
 
The facility comprises three wind turbines that sit upon floating platforms anchored to the seabed at a depth of 100 metres. The wind farm will have an installed capacity of 25 MW.
 
The € 60 million loan will finance the floating wind farm with the support of the InnovFin Energy Demonstration Project facility, which is funded under the EU’s current research and innovation programme Horizon 2020. In addition, the project will receive € 29.9 million from the EU’s NER300 programme, and up to € 6 million from the Government of Portugal, through the Portuguese Carbon Fund
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