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Principle Power and KIC InnoEnergy have announced a partnership which includes a € 4 million investment from KIC InnoEnergy in the “WindFloat – Path to Commercialisation” project. The partnership encompasses nearly every aspect of technology development and commercialisation, including engineering, third party analysis and certification, business development and dissemination.

The project is scheduled to conclude in 2018, following a multi-year, multi-disciplinary program. In addition, the partnership leverages investments in complementary project development activities as part of the WindFloat Atlantic (WFA) project in Portugal. The 25MW WFA project is scheduled for installation in late 2018 or 2019 and is backed by a consortium of energy and industrial players including: EDP Renewables, Trust Wind (a 50/50 JV between Engie and Marubeni), Chiyoda Corporation, Mitsubishi Corporation and Repsol. The WFA project is a recipient of NER300 funding from the European Commission.

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