Aker Solutions, Inc. has invested in Principle Float, a floating wind technology company, formed a coalition to expand its position in offshore oil and gas engineering and to enter the fast-growing renewable energy market.
According to reports, Aker Solutions has a good record in the development of offshore oil and gas fields, especially in the floating facilities, this cooperation will help to Principle Wind's technology - offshore wind turbine floating base WindFloat with people Broader market.
Principle Power's WindFloat pedestal enables wind turbines to be placed at the richest wind power locations offshore, and without regard to depth, the risk and cost of installation, operation and maintenance, and environmental impact are also reduced. This revolutionary WindFloat base dampens the induced motion of waves and generators, allowing wind turbines to be placed in previously inaccessible locations beyond 40 meters (130 feet), where wind resources are more abundant.
In October 2011, Principle Power deployed a full-scale 2-MW WindFloat prototype on the Portuguese coast. The generator can be assembled and commissioned on the shoreline and then towed along the Portuguese coast. To date, the system has generated more than 16GWh of power and is transmitted to the local power grid via a submarine cable.
Aker Solutions has already acquired a 5% share of Principle Power at an early stage and will increase its acquisition share to 10% by the end of 2018 and will continue to grow. However, the two sides did not disclose the specific price of the acquisition.
Some market analysts pointed out that with the global promotion of the use of lower-carbon fuels, from 2016 to 2022, offshore wind power installed capacity will more than double.