Gazelle Wind Power has secured a €2 million investment to advance construction of its 2MW Nau Azul floating wind demonstrator project off the coast of Portugal, the company said on Friday.
The funding was provided by Banco Português de Fomento (BPF) through a deal-by-deal co-investment programme, carried out in partnership with venture capital firm Indico Capital Partners.
Gazelle said the investment will support further development of the Nau Azul project, which aims to validate its proprietary floating wind platform and demonstrate its commercial viability for large-scale offshore deployments.
“Having the support of such a respected institutional investor is a meaningful vote of confidence in our floating wind platform and its potential to help unlock offshore wind at a global scale,” a company spokesperson said. “We’re truly grateful for their trust in our team and their belief in our mission to drive the future of floating wind energy forward.”
The demonstrator is located off the coast of Agucadoura, where Gazelle recently received a 10-year Tupem licence from Portugal’s Directorate-General for Natural Resources, Safety and Maritime Services (DGRM). The authorisation grants exclusive rights to occupy and utilise a defined area of maritime space for installation, testing and operation of the platform.
The project site previously hosted WindFloat 1, one of Europe’s early floating wind pilot initiatives.
In addition to funding project construction, the investment will help Gazelle strengthen its operational capabilities and expand its technical team, the company said. Gazelle sees the project as a key step toward becoming a strategic contributor to the global floating wind energy market.
