Principle Power, Inc. Overview
Principle Power, Inc. was established in 2007 headquartered at Emeryville, California, United States. Company is a technology developer and service provider focused on the deep water offshore wind energy market. Company has commissioned about two WindFloats till now. ‘WindFloat 1’ with an installed capacity of 2MW was commissioned in 2011 in near Portugal. ‘WindFloat Japan’ with an installed capacity of 6MW is supposed to be commissioned by the end 2017 in near Japan.
The company operates in a product named WindFloat, which is a floating foundation for offshore wind turbines. Company has two proposed future projects in Portugal with an installed capacity of 25 MW supposed to be commissioned by the end 2018 and one near French-Mediterranean coast with an installed capacity of 24 MW supposed to be commissioned by the end 2020. Company has subsidiaries such as, Principle Power France and Principle Power Portugal.
Strategy
The company sees long term partnering & collaborating with global heavy industry manufacturer and wind energy solution provider as their key strategy. Company sees collaborating increase their operational efficiency and brings innovation and development the company. Company is progressively expanding its network globally so as to mark their presence in floating wind energy market. Company also has a keen and dedicated R&D team, which engages in innovative new product development and aerodynamic design for wind turbines, so as to sustain harsh deep-water climate
