Principle Power Scores Twice

Principle Power, Inc. welcomed the U.S. Department of Energy’s (DOE) selection of the WindFloat Pacific project for $47 million in matching grant funding, and deal with Deepwater Wind to complete the development of the WindFloat Pacific project.

Principle Power Scores TwiceDOE funding will accelerate the development of the 30-megawatt floating offshore wind farm proposed for the deep waters off Coos Bay, Oregon.

“The Department of Energy’s support will not only advance a new industry with significant job creation potential, but also ensures that offshore wind will be a part of the energy mix for the West Coast, ready for commercial deployment as energy demand and our preference for non-fossil resources continue to grow,” said Alla Weinstein, Principle Power’s Chief Executive Officer. 

Commenting the deal with Deepwater Wind, Weinstein said: “Having Deepwater Wind as a project developer brings together accomplishments and expertise – Principle Power’s proven technology and Deepwater’s experienced energy team.” 

The 5-turbine WindFloat Pacific project – the first offshore wind farm proposed for the West Coast of the United States – will be located in 350-meter deep waters, out of sight from land, where the winds are stronger and more consistent. The WindFloat provides for cost-effective construction, assembly and commissioning, completed entirely onshore, and avoids seabed foundations and pilings. The US Bureau of Ocean Energy Management in February released a determination of no competitive interest for the proposed lease area and is proceeding with a non-competitive lease issuance.

Principle Power has successfully designed, constructed, installed and operated a WindFloat prototype off the coast of Portugal since 2011, where it has delivered in excess of 9GWh of wind energy to the local grid.

Press Release, May 08, 2014; Image: principle power


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