Gazelle Wind Power, the developer of what it describes as a “next-generation” floating offshore wind platform technology, has secured a €11.4 million funding round led by Indico Capital Partners, a premier investor in ocean related sustainable technologies. Other investors in the round included DST Group, August One, Wah Kwong, and E2IN2, among others. The funding will further accelerate the development of Nau Azul, Gazelle’s 2 MW grid-connected demonstrator in Aguçadoura, Portugal.
“The Nau Azul project will serve as an example of how to design, build, install, operate and therefore enable cost-competitive floating wind energy generation,” said Gazelle Wind Power CEO Jon Salazar.
Gazelle’s floating offshore wind platform aims to address critical challenges faced by the technology, such as high mass production and installation costs, complex supply chain logistics, and limited suitable installation sites. The hope is that the Gazelle concept will reduce the levelised cost of electricity (LCOE) for floating wind – currently very high – whilst reducing the environmental impact of floating platforms on marine ecosystems.
The Gazelle platform’s patented dynamic mooring system reduces pitch and balances movement in response to external forces, including wind, waves, and tide. Its lightweight, modular design is based on naval engineering principles, does not use active ballasting systems, and allows scalable, adaptable configurations, making it a more affordable and accessible solution for deep water deployment, says Gazelle Wind Power. The modularity of Gazelle’s components also enables cost-effective fabrication in shipyards, with final assembly near the wind farm site.
Stephan de Moraes, Co-Founder and Managing General Partner at Indico Capital Partners stated: “For [offshore renewables] costs to be competitive we need new ways to build, install and operate these mega structures. Gazelle offers a solution for that pressing problem of cost competitiveness with a “lego” type of structure that will bring costs down dramatically and enables the installation of deep-sea wind farms all over the world.”
“Gazelle Wind Power offers an exciting new solution to the complex challenge of creating floating offshore wind farms that are environmentally friendly, cost-effective, and durable in open-sea conditions,” said José Teixeira, Chairman of DST Group. “We believe that DST Group’s strong track record in manufacturing, engineering, construction, and renewable energy will add tremendous value to the development and construction of Nau Azul.”
Gazelle Wind Power believes its floating wind platform concept is poised to become the benchmark for the industry with a design that is targeted to lower costs, enable local content, utilise pre-existing port infrastructure, and incorporate shipbuilding construction with modular assembly. The floating platform offers high stability and easy transport, installation, and maintenance while preserving fragile marine environments, says Gazelle. The company is based in Dublin and Viana do Castelo and has a presence in Vigo and London.
