Gazelle Secures New Funding for 2 MW Floating Wind Demo Project

May 29, 2025, by Adnan Memija

Gazelle Wind Power has secured an investment for business growth and the development of its 2 MW floating wind demonstrator project in Portugal.

The EUR 2 million investment was closed with Banco Português de Fomento (BPF) through the Deal-by-Deal Co-Investment Programme, in partnership with Indico Capital Partners.

According to BPF, the investment will allow Gazelle Wind Power to establish itself as a player in the global renewable energy market, strengthen its operational structure, and expand the company’s technical team.

In addition, it will allow the firm to move forward with the construction and assembly of the Nau Azul floating wind demonstrator project.

Gazelle revealed plans for the pilot project in 2023, when the company partnered with the Portuguese renewable energy developer WAM Horizon to accelerate the development of the project in Aguçadoura, which will use its technology.

In November 2024, the company secured EUR 11.4 million to further accelerate the Nau Azul demo project through a funding round led by Indico Capital Partners. Other investors in the round included DST Group, August One, Wah Kwong, and E2IN2, among others.

Last month, the firm was issued a 10-year permit by Portugal’s Directorate-General for Natural Resources, Safety and Maritime Services (DGRM) for its floating wind demonstrator project.