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WindFloat: Ready for Commercial Deployment on the US West Coast.
POET Conference in Portland, ORSeptember 2018
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2
Introduction to Principle Power
Successful 5-year Full Life-Cycle Demonstration2MW Vestas, Identical Performance to Fixed Foundation17GWh, Produced in 12m waves; Survived 17m waves
A Proven Technology
Project Pipeline
3 Precommercial Projects in ProgressCommercial Developments in Europe, USA, Asia
Strong Backing
Shareholders
Global Presence
Partners
Founded in 2007> 50 employees - Offices in California, FR, and PT
Our Vision: Be the global leader in deep water wind technologyOur Mission: To make the WindFloat the most competitive, safe, reliable and environmentally friendly floating
technology and unlock GWs of global renewable energy potential
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WindFloat Atlantic under construction: fabricating columns for 8MW+ turbine foundation
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Fos/Mer
Port-‐La-‐Nouvelle
First retrofit of a floating wind turbine (WF1) in Scotland
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• Relies on Existing Oil&Gasand Wind Energy Expertise • 3 column Semi-Submersible Type• Turbine-Agnostic (latest: Vestas V164 8.3MW) • Shallow draft / Inherently stable in transit• Quayside Final Assembly and Commissioning• Low pre-tension conventional mooring system
• Approval from Class Societies: ABS, BV, Class NK
WindFloat Technology Presentation
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TRL 85-Year Full Life Cycle Demonstration 2011-2016
• Vestas V80 2MW performed as well as on a Fixed Foundation• Operation up to 1-year Return Period Storm Conditions• Endured intense storms: 55’ waves, 60 knot winds• Incorporated lessons to improve next generation of technology
3 Precommercial Projects: COD 2019-2012incl. WindFloat Atlantic (under construction) Non-Recourse Project Finance
Several Commercial Projects under Development
0
500
1000
1500
2000
2500
0 5 10 15 20 25
Power(KW
)
WindSpeed (m/s)
WF1Powerproducedbinnedbyseastates
Power(KW)
Hs=0-1m
Hs=1-2m
Hs=2-3m
Hs=3-4m
WindFloat Technology Status
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Conventional Catenary or Taut Mooring System• Simple and Robust 3-Line Spread Mooring System• Combination of Chain and Polyester• Proven mooring technology commonly used in the oil &
gas industry• Design for 25years, meeting Class requirements
Courtesy of VRYHOF
MooringSystem
For DeepWaters
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MooringSystem
Siting Flexibility/ Reduced Geotech. Works No piling - acoustic disturbances are minimalDrag embedment anchors tensioned to 100% design load, NOT drivenStandard anchor handling and towing vessels readily available in most markets including in the US
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Hull = Optimized oil & gas RigAll hulls are identical pre-fabricated components that are assembledFloaters can be built in existing industrial facilities and using the existing supply chainSimilar steel structures, welder qualifications, welding procedures, labor requirements
Hull Fabrication
and Assembly
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`
Design One, Build ManyIncreased automation/modularization drives lower costs Requires deep engagement with supply chain and volume/visibility
Enabling serial
production
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Finalizing Assembly at Quayside
Minimum Offshore Operations and NO Offshore Heavy-liftAssembled and Pre-Commissioned OnshoreUses Existing Port infrastructure: Quays or DrydocksRequires only offshore tug VesselsFoundation acts as Installation Vessel
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Offshore Installation
Minimum Offshore OperationsMooring Pre-lay (1.5 day)Pre-Commissioned System TowedFinal Hook-up (0.5 day)
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Revolutionizing O&M
Large O&M conducted “Onshore”Shorter weather windows requiredFewer and simpler operations to be conducted offshoreNo use of specialized O&M vessels
Photo Credits: PrinciplePower
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LCOE reduction has been the focus of every project -‐ WindFloat is on its 3rd generation design
LCO
E
2006 2011 2016 20192008 2021
WindFloat V3.§ Commercial§ Turbine size 6-15 MW§ V3.0 EFGL§ V3.1 H20 10+ MW§ V3.2 RCEA CA, US§ V3.3 500 MW Commercial
WindFloat V2.§ Pre-commercial§ Turbine size 5-8 MW§ V2.0 WFP§ V2.1 WFJ§ V2.2 WFA
WindFloat V1.§ Prototype§ Turbine size .25-2 MW§ V1.0 3x250KW§ V1.1 1 MW§ V1.2 WF1 (2 MW)
LEGENDMF-Wind: Original development, Private fundsWF1: Prototype in Portugal, Venture InvestorsWFP: WindFloat Pacific; DOE grantWFJ: WindFloat Japan; NEDO grantWFA: 25MW Portugal, Developer + Bank Financing + NER300EFGL: 24 MW France, Developer, Bank Financing + ADEMEKOWL: 50 MW Kinkardine, Scotland, Developer + ROC regimeH20: Senvion led H2020 EU Grant 2018-2020WFHB: 120 MW Humboldt Bay, California, US, Project Financed
MF-WindWF1
WFP
WFJ
WFA
H20EFGL
WFHB
KOWL
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10
The WindFloat is on track to compete with conventional power, other renewables, and fixed offshore wind
WINDFLOAT Strike Price Range