Principle Power and Mitsui Engineering & Shipbuilding Sign Collaboration Agreement to promote WindFloat projects in Japan

Principle Power, Inc. (PPI) and Mitsui Engineering & Shipbuilding, Co., Ltd. (MES) today announced that the two companies have signed a Collaboration Agreement to promote Floating Offshore Wind (FOW) projects in Japan. The agreement represents a continuation of the companies’ cooperative relationship first established for the design, performed for NEDO (New Energy and Industrial Technology Development Organization), of a WindFloat to be deployed in Japanese waters.  That design was formally issued an Approval in Principle by the Japanese Classification Society, Class NK, in November 2016.

The new agreement establishes the framework for MES and PPI to collaborate on the advancement of the FOW market in Japan, through multiple project development activities. Going forward, MES and PPI will cooperate to further enhance the WindFloat design to meet floating offshore wind deployment opportunities in Japan, and potentially other markets.

“Over the years, MES has been a strong and dependable partner to Principle Power,” said Joao Metelo, PPI’s President and CEO.  “Already one of the most accomplished offshore engineering and construction companies in Japan, we are very excited about the opportunities our ongoing collaboration with MES can deliver, not only for our work together but for the floating offshore wind industry in Japan and potentially elsewhere.  This is a very important step for our company.”

“Our floater is feasible to the Japanese waters, satisfying both the technical and economical requirements,” said Mr. Cho, General Manager of the Business Development Division, Ship and Ocean, Project HQ., MES.

About Principle Power
Principle Power, founded in 2007, is a technology and services provider to the offshore wind industry.  Principle Power’s innovative and proven technology, the WindFloat – a floating wind turbine foundation – provides access to transitional and deep-water offshore wind sites. By simplifying the way offshore wind is deployed, this unique technology assists the ongoing development of the offshore wind industry as whole, opens new deep water markets, and has the potential to substantially decreases the cost and risk profile of offshore wind projects. Principle Power, with offices in the USA, France and Portugal, sells the WindFloat as a technology solution and acts as a service provider to developers, independent power producers, and utilities engaged in the rapidly expanding global offshore wind market. 

About Mitsui Engineering & Shipbuilding
MES, based in Tokyo, Japan, is one of the major heavy industry manufacturer in Japan established as the Shipbuilding Division of Mitsui & Co., Ltd. in 1917. Since then, MES has built and launched numerous ships to the world seas. The company now employs around 12,700 staff, and has four manufacturing works in Japan and many group companies worldwide. The company product portfolio includes shipbuilding, two-stroke marine diesel engine, rotating machinery of various types such as compressors and turbines, EPC of various plants including medium sized power plant, and Offshore equipment such as FPSO.  In 2013, MES successfully deployed its own semi-submersible floating offshore wind foundation, Fukushima Mirai, as part of the Fukushima Floating Offshore Wind Farm Demonstration Project (Fukushima FORWARD).