Wind Energy – Floating Wind
Norwegian developer Aker Offshore Wind has agreed to reduce its share of floating platform manufacturer Principle Power, offloading a partial stake to fellow stakeholder EDP.
The transaction is based on a pre-existing option and is intended to rebalance the ownership structure and give Aker Offshore Wind and EDP equal equity stakes in Principle Power, an Aker spokeswoman explained.
It is expected to be worth NOK 100 million (€9.9 million), she added.
Prior to the transaction, Principle Power, which is based in California, was owned by Aker Offshore Wind (47%), EDP (25.5%) and Tokyo Gas (27.5%).
Following the transaction – which is expected to close in the first quarter of 2022 – the ownership structure will be Aker Offshore Wind (36.25%), EDP (36.25%) and Tokyo Gas (27.5%).
Principle Power has designed a semi-submersible, three-column floating platform called WindFloat.
It has been installed at a full-scale pilot project off Portugal and a commercial site off Scotland.