Our story

Leading the way to
 a sustainable future

Principle Power was founded on the belief that competitive floating offshore wind technology is necessary to unlock the massive deep water renewable energy potential of the ocean.

Offshore wind resource offers a tremendous opportunity to meet the world's imperative need to decarbonize. The International Renewable Energy Agency estimates that offshore wind alone can power planet earth 18 times over. 

Floating technology enables offshore wind to go global

Offshore wind power is the world’s fastest-growing renewable technology. With individual, commercial scale projects able to power 1 million homes, offshore wind is placed at the forefront of the fight against climate change.

Over 80% of global offshore wind resource is in waters deeper than 40 meters, where traditional fixed-bottom foundations are no longer economically viable.

Principle Power has proven WindFloat® technology in several projects over the past decade. Today, our 4th generation WindFloat® product portfolio plays a central role in our company-wide “300x30” vision for industrialization – a program that will enable us to deliver 300 floating wind turbines by 2030, advancing the industry into the gigawatt scale era.

From oil & gas to offshore wind

Semi-submersible platforms are by far the most utilized technology in the oil & gas sector and have a proven track record extending back to the 1960s. Semi-submersibles offer exceptional stability, high adaptability to harsh environments, and operational simplicity throughout fabrication, installation, and operation. 

In 2007, Principle Power partnered with Marine Innovation & Technology, a specialist offshore engineering company, to develop a floating platform for offshore wind turbines based on a semi-submersible platform architecture.

WindFloat® technology features a three-column semi-submersible architecture for structural efficiency, damping plates at the keel to improve hydrodynamic performance, and the ability to be fully integrated at a quayside to reduce the amount and the complexity of offshore works.

The first WindFloat® patents were filed in 2008 and Principle Power acquired the technology IP portfolio in 2009.

Funding to build a 2 MW prototype project in Aguçadoura, in the north of Portugal, was secured with EDP, the largest Portuguese utility company and 4th largest operator of wind projects worldwide, and later with Repsol, a Spanish oil & gas company.



The 2 MW WindFloat 1 prototype began operations in 2011 and was the first to use a semi-submersible architecture.

WindFloat 1

WindFloat Atlantic

Kincardine Offshore Wind Farm

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The journey to commercial-readiness

Following the successful proof of concept, Principle Power launched the next phase of technology development and maturation across a portfolio of small commercial projects ranging from 25 MW to 50 MW in Portugal, the USA, France, the UK, and Japan. The purpose of these small arrays was to:

  • Engineer the technology with state-of-the-art 8-10 MW wind turbines and 20–25-year design life
  • Demonstrate the WindFloat®‘s adaptability across a broad range of site and market conditions
  • Prove out the economics and bankability of the system
  • Test and refine procedures for fabrication and installation to inform future industrial-scale projects

The WindFloat® portfolio: ready for commercial deployment

WindFloat® technology has an unmatched track record, proven over a decade of operations in extreme weather conditions offshore Portugal and Scotland.

Number of WindFloat®
 units installed
8
Number of WindFloat® units
 under design contract
825 units; 14+ GW
Global WindFloat® 
power production
~ 740 GWh
Global WindFloat® operational hours
~ 239,630
Largest wind turbine generator 
operating
9.5 MW
Maximum wave height encountered
20 m
Maximum wind speed
 encountered
59.6 m/s (214 km/h)

With four products, the WindFloat® portfolio has 105 MW of cumulative capacity in operation or under advanced development and provides reliable and bankable solutions for any project context or supply chain context. WindFloat® technology will play a central role in our “300x30” industrialization vision – a program that will enable Principle Power to deliver 300 floating wind turbines by 2030, propelling the industry into the gigawatt scale era.