Tokyo Gas Co invests about US$22mn in Principle Power

Tokyo Gas Co., Ltd. has become one of the primary investors and shareholders of Principle Power, Inc. after it has invested more than JPY2 billion (US$18.58 million). 

Principle Power is a leading technology service provider in the field of floating type offshore wind power generation that develops and owns proprietary WindFloat® technology. 

The patented WindFloat® technology, which Principle Power has substantiated over the past 10 years, has significant stability in various maritime conditions and is expected to be widely adopted by floating offshore wind projects around the world. In Europe, it has already been deployed to a project featuring the largest wind turbines ever to be installed on a floating foundation. In Japan, where shallow sea beds are limited, floating technology is expected to bring about the expansion of wind resources converting areas with deep water into sites for power generation. Tokyo Gas expects that WindFloat® will be at the forefront of such progression, and Tokyo Gas will actively engage in the development of floating offshore wind projects inside and outside of Japan by utilizing WindFloat®.