Gazelle Wind Power, developer of floating offshore wind platform technology, has entered into a strategic agreement with Portuguese conglomerate dstgroup. In addition to the financial investment, dstgroup’s steel engineering and manufacturing subsidiary bysteel will be responsible for fabricating and constructing the modular steel structures for Gazelle’s Nau Azul project.
As part of the agreement, dstgroup’s corporate venture capital arm, dstventures, will invest €1.5 million in Gazelle. The floating wind demonstration project is located off the coast of Aguçadoura, Portugal, and will serve as a validation of Gazelle’s platform design. Gazelle recently received a 10-year TUPEM (Título de Utilização Privativa do Espaço Marítimo) authorisation, clearing the way for the project’s deployment.
