Gazelle Secures Multi-Million Funding for Floating Wind Demo
(Credit: Gazelle Wind Power)
Gazelle Wind Power, a Dublin-based floating wind developer, has closed a $2.26 million (€2 million) investment with Banco Português de Fomento (BPF) to support further development of its floating wind technology and projects.
The investment with BPF has been secured through the Deal-by-Deal Co-Investment Programme, in partnership with Indico Capital Partners.
According to Gazelle, it will enable the company establish itself as a strategic player in the global renewable-energy landscape, while growing its technical team and strengthening its operational structure.
Also, it will support further construction of the company’s 2MW Nau Azul demonstrator project in Viana do Castelo, aimed at validating its technology and demonstrating the cost-competitiveness and scalability of its solution.
To remind, Gazelle received a 10-year TUPEM (Titulo de Utilizacao Privativa do Espaco Marítimo) authorization from the Portuguese government in April 2025, clearing the way for the deployment of the demonstrator off the coast of Aguçadoura.
“Having the support of such a respected institutional investor is a meaningful vote of confidence in our floating wind platform and its potential to help unlock offshore wind at a global scale. We’re truly grateful for their trust in our team and their belief in our mission to drive the future of floating wind energy forward,” Gazelle said in a statement.
February 2025
