Gazelle Wind Power has received a €1.5 million strategic investment from Portuguese industrial group Dstgroup to support its Nau Azul floating wind project and accelerate the commercialisation of its modular offshore platform technology, the companies said on Tuesday.
The investment was made through Dstgroup’s corporate venture arm, Dstventures, and will help scale Gazelle’s floating wind solutions for turbines of 15 megawatts (MW) and above, targeting both Iberian and global markets.
“Dstgroup’s experience in scaling industrial ventures and its innovative approach to new business give Gazelle the momentum we need to quickly advance our technology,” said Jon Salazar, CEO of Gazelle Wind Power. “Combined with Bysteel’s expertise in industrial-scale production, we’re developing cost-effective offshore wind platforms that can be scaled for large commercial deployments.”
Bysteel, Dstgroup’s steel engineering and manufacturing subsidiary, will be responsible for fabricating and constructing the modular steel structures for the Nau Azul project, which is located off the coast of Aguçadoura in northern Portugal.
Gazelle said its floating platform is designed for deployment in harsh offshore environments and aims to reduce motion, minimise environmental impact and lower the levelised cost of energy. The platform features compact hull geometry and a counterweight-based mooring system, enabling assembly in shallow-draft ports and requiring less steel than conventional floating structures.
José Teixeira, chairman of Dstgroup, said the investment supports the company’s broader energy transition goals. “We are thrilled to contribute to what promises to be a landmark demonstration of the scalability of floating wind platforms to turbine sizes of 15MW and above,” he said. “This enhances Portugal’s leadership in offshore renewable energy innovation.”
The Nau Azul site will serve as a validation platform for Gazelle’s technology and is backed by a 10-year TUPEM (Título de Utilização Privativa do Espaço Marítimo) licence, allowing private use of maritime space.
Gazelle said the project is expected to generate local economic benefits, including supply chain development and new jobs in industrial production.
