Offshore Wind Blowing Into Portugal, If Cash Doesn’t Get in the Way
Principle Power got some hard-won validation for its floating offshore wind-turbine platforms this week when it signed a deal with European utility Energias de Portugal, the world’s fourth-largest wind producer. The agreement calls for the two companies to develop a three-part project off the coast of Portugal.
The news doesn’t come as much of surprise, as Seattle-based Principle Power previously had told me it was partnering with EDP. But the fact that the utility has selected Principle Power’s WindFloat platforms — and has decided to go forward with the project — is a win for the startup. It’s also evidence that utilities are continuing to pursue offshore-wind technology in spite of the recession (read more about offshore wind here, here and here). “Offshore wind is one of our key priorities,” EDP CEP Antonio Mexia said in the announcement.
