Principle Power is an innovative technology and services provider for the offshore deep water wind energy market. PPI’s proven technology, the WindFloat - a floating wind turbine foundation – enables a change in paradigm for the industry in terms of reduced costs and risks for the installation and operations of offshore wind turbines. Principle Power sells the WindFloat as a technology solution and acts as service provider to developers, utilities and independent power producers, being present from the overall system design throughout fabrication, installation and commissioning, and providing support to customers during the operation life cycle of the platform.
Principle Power's mission is to make the WindFloat the most competitive, safe, reliable and environmentally friendly technology for deep-water offshore wind projects while enabling global offshore wind markets to reach their full potential.
Commercial advantages for floating offshore wind that are uniquely facilitated by the WindFloat solution include:
- Lower Costs and Risk in installation and operations – WindFloat allows for on-shore platform assembly, offshore turbine installation and major repairs, eliminates the need for specialized and expensive installation vessels, and has minimal environmental and ecological impact to the sea-bed;
- Location and depth constraint mitigation – WindFloat allows arrays to be optimally located in deep water with varied underwater landscapes, accessing the higher quality wind resources while eliminating negative visual impact.
The breadth of experience, expertise, and proven track record of Principle Power’s management team are commensurate with the demands of a successful technology developer and service provider to the industry.
Principle Power has offices in key markets including the United States, Portugal and France and is active in offshore wind markets around the world. Based in the US, Principle Power is promoting adoption of the WindFloat globally. PPI’s major shareholders include EDP Ventures and Repsol Energy Ventures, in addition to several early investors and management.