PORTUGAL FLOATS OCEAN WIND

Principle Power and Partners Inaugurate the first Portuguese Offshore Wind Turbine

June 18, 2012 (Principle Power)

“Principle Power, Energias de Portugal, Repsol, A. Silva Matos (ASM), Vestas Wind Systems A/S and InovCapital…[inaugurated] Portugal's first offshore wind turbine…on an innovative floating foundation called the WindFloat…[It is] the first offshore wind turbine in Portugal…

“…[ The WindFloat] is the first offshore wind turbine to be installed without the use of any heavy lift vessels or piling equipment at sea. All final assembly, installation and pre-commissioning of the turbine and substructure took place on land in a controlled environment. The complete system was then wet-towed offshore using simple tug vessels…The WindFloat is equippd with a Vestas v80 2.0MW turbine capable of producing enough electricity for 1,300 households. [The WindPlus joint venture, comprised of EDP, Repsol, Principle Power, ASM, Vestas Wind Systems A/S and InovCapital…the Innovation Support Fund (Fundo de Apoio à Inovação – FAI)…[and] over 60 other European suppliers, 40 of them Portuguese, supplied key components to the project…]”

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“The system is located 5km off the coast of Aguçadoura, Portugal, and has already produced in excess of 1.7 GWh. The WindFloat…[can harvest] the highest quality wind resources, independent of water depth…[and] realize significant cost and risk reductions as a result of the onshore fabrication and commissioning scheme…The WindFloat has already endured a harsh winter environment in the open Atlantic, having withstood waves of up to 15 metres at the close of 2011…[and performed] within predictions…[with] power production figures [supporting] the joint-venture's vision of the WindFloat's significant and game-changing role in the global offshore wind market.

“The WindFloat and subsequent Portuguese offshore projects represent a great industrial opportunity for Portugal. The country's existing infrastructure, such as shipyards, could be adapted to support an offshore industry with tremendous domestic and global growth potential…”

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