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A Long Green View - January 2, 2008
OFFSHORE WIND
Although land-based wind energy generation is a mature market in both the US and Europe, offshore wind has historically presented economic, technical, and political challenges. This has slowed the development of vast wind resources available offshore. Offshore wind provides greater wind resource compared to on-land wind energy sites, due to less sheer and greater capacity. However, in much of the US, Europe and South America, a steep continental shelf relatively close to shore currently inhibits installation of turbines in water depths greater than 40m. Principle Power has licensed and continues to develop solutions for offshore wind generation assets.
With a modular and scalable approach to offshore wind energy generation, Principle Power is confident that typical economic barriers can be circumvented. Principle Power strives to mitigate technology risk by employing existing and proven technologies in their projects. Through the use of novel materials and construction methods, development and construction costs can be reduced, allowing for more lucrative project financing opportunities.
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Principle Power is poised to bring development of floating wind turbine platform technology to the market by addressing two of the biggest technical challenges associated with offshore wind installations: deep water site selection and installation. Using intellectual property developed by experienced offshore oil and gas industry experts coupled with novel innovations by in-house engineering, Principle Power is currently pursuing a pilot project to further prove the potential and economic feasibility of deep water offshore wind energy installations around the world.