Total amount of renewable energy generated
In 2016 we maintained our stake in Principle Power Inc. (PPI).PPI is the first company in the world that has been able to design, install and operate a floating semi-submersible structure for offshore wind generation. The prototype has produced around 17,000 MWh since it was commissioned at the end of 2011 in Portuguese waters. Our total investment in this project to date is €7.4 million.
We are also continuing the WindFloat Atlantic (WFA) project in a consortium along with EDP Renewables, Mitsubishi Corp., Chiyoda Corp., Engie and Repsol (with a 19.4% stake).
The project consists of an offshore wind farm with three state-of-the-art wind turbines, each of which will be supported by a floating structure based on Windfloat technology (owned by Principle Power Inc.), and the facility is expected to have a total capacity of up to 25 MW. It will be located off the north coast of Portugal, some 20 km from Viana do Castelo.
The project has two basic features that distinguish it from traditional offshore wind facilities:
- Each wind turbine will operate on a floating Windfloat platform for the sake of stability, and this will be connected to the sea bed by chains only. This avoids the complex offshore operations associated with the installation of traditional fixed structures, thereby reducing the potential environmental impact.
- The entire platform/wind turbine unit will be built and assembled on land, and then towed out to its final location.
These two features make it unnecessary to use any large cargo/installation vessels, thereby avoiding complex and costly operations at sea. It also means the turbines can be installed much farther from the shore, where the sea is deeper and the winds stronger and more regular.
Windfloat Atlantic's project company Windplus has now obtained a production license from the Portuguese government through the Department of Energy and Geology. This is the last permit required to move forward on the project. The company had already obtained its environmental permit, authorization to connect to the electricity grid, and authorization for operations at sea.
The project has a remuneration scheme approved by the Portuguese government, and has grants from the European Union on the NER 300 program and also from Portugal's Environmental Agency (APA).
The investment package totaled €0.5 million, and the project is due to start in 2019.
- Repsol Energy Ventures S.A. has a stake of 24.79% in the North American company Principle Power Inc.