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.

DOE 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