A Fantastic News In a major vote of confidence in Europe’s offshore wind sector,Gazelle Wind Power, a Viana do Castelo-based developer of floating wind technology, has secured an additional €2 million investment from country’s sovereign bank, Banco Português de Fomento (BPF).
This impressive funding was granted through the BPF’s deal-by-deal co-investment program, bringing the total amount of funding raised for Gazelle’s ‘Now Azul’ floating wind demonstration project to €18.8 million. John Salazar, CEO of Gazelle Wind Power Highlighted,
“The support of a respected institutional investor like Banco Português de Fomento is a strong vote of confidence in our floating wind platform and the potential to unlock offshore wind globally,” adding, “This investment strengthens our position as a strategic player in the renewable energy sector.”
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Nau Azul Project Glimpse
2 MW floating Wind demonstrator from Aguadora, Portugal
Total Investment of €18.8 million, including €2 million from Banco Português de Fomento
Innovative modular platform with reduced capital costs and high stability
Backed by lead investors: BPF, Indico Capital Partners
Supporting employment and Portugal’s clean energy goals
Low environmental impact, deployed from shallow ports
Statements of Stakeholders
Founded in 2020, Gazelle aims to make deepwater wind energy more efficient, accessible and environmentally friendly. The company is headquartered in Portugal and Ireland, with additional presence in Spain and the UK.
According to Teresa Fuza, Chief Investment Officer of BPF:
“This investment reinforces our commitment to sustainable technological solutions with high economic impact. By supporting Gazelle Wind Power, we are contributing to accelerating the energy transition, creating qualified jobs and promoting sustainable growth in the blue economy.”
In addition to BPF, Gazelle is supported by key investors such as Indico Capital Partners whose co-founder and managing general partner Stefan de Moraes noted:
“Gazelle is moving forward with the launch of Nau Azul, a full-fledged demo at sea. This investment from BPF brings the company closer to full financing for launch. We look forward to seeing it succeed.”
Significance for Gazelle
With this new funding, Gazelle Wind Power will implement the following plans:
Expand construction of the Nau Azul demonstrator
Expand technical team
Increase operational efficiency
Continue its commercialization roadmap for floating wind deployments worldwide
The £10.9 billion Aspen floating wind project is believed to create 1,000+ UK jobs and transform Scotland into a global offshore wind hub.
A game-changing floating wind farm in the North Sea is set to create more than 1,000 high-skilled jobs, led by Cerulean Winds and a powerhouse consortium including NOV, Siemens Energy, Bilfinger and Ocean Installers. Cerulean Winds has revealed that its Aspen Wind project, part of a £10.9 billion investment over 50 years, will be the cornerstone of the UK’s renewable energy transformation.
At the heart of it all is the Ardersea Energy Transition Facility – the UK’s first center dedicated to the assembly and operation of floating offshore wind (FLOW). This strategic site will anchor an inland supply chain that will drive long-term growth, sustain investment onshore and position the UK as a world leader in floating wind technology.
The Aspen project is set to interconnect three floating wind farms in the central North Sea, which together set to use 300 turbines and generate up to 3 gigawatts of electricity. By 2028, Aspen is expected to be connected to the UK onshore grid via Aberdeenshire, a major step towards the government’s clean energy targets.
The Ardshear port in the Highlands will act as the wind farm’s assembly and supply hub, while strengthening the UK’s floating offshore wind supply chain. The strategic location is set to create more than 1,000 direct jobs in Scotland and attract significant inward investment, as Cerulean Winds partners with global companies such as Siemens Energy and NOV.
Dan Jackson, the Founding Director, Cerulean Winds
Dan Jackson, founding director of Cerulean Winds, said: “The Aspen project has the potential to not only create thousands of skilled jobs but also billions in investment, helping to further cement the UK’s role as a global leader in renewable energy.”
Aspen project will be the global leader in renewable energy
UK Energy Secretary Michael Shanks is set to visit the port on the 12th May of 2025 of Ardersea to meet the Cerulean Winds team and witness the clean energy revolution. Shanks stressed: “This project is a vital part of Scotland’s rapidly growing renewable energy sector, which will bring good jobs and economic growth to the region as we work towards our clean energy targets by 2030.”
This project will be the game changer for 2030 clean energy targets.
Project Summary – Aspen Wind Project at a Glance
Project Name: Aspen Floating Wind Project Location: Central North Sea, UK Total Investment: £10.9 billion over 50 years Green Jobs Created: 1,000+ (including 100 Apprenticeships) Lead Developer: Cerulean Winds Consortium Partners: NOV, Siemens Energy, Bilfinger, Ocean Installers, Haventus Key Facility: Ardersea Energy Transition Facility (Scotland) Economic Impact: £4.1 billion Gross Value Added (GVA) to UK Economy Output Capacity: 1 GW (Aspen) – Part of Cerulean’s 3-site rollout Milestone Visit: Visited by Energy Minister Michael Shanks on 12 May 2025
About Cerulean Offshore Wind
Floating Wind Farm in the North Sea, Image: iStock
Cerulean Winds is the world’s largest floating offshore wind farm, delivering clean electricity to industrial users and is pioneering the future of offshore renewable energy by enabling significant energy export capacity. As a leader in the UK’s offshore renewable grid, we are committed to accelerating the transition to net zero globally.
To that end, they are combining technological innovation with decades of expertise in marine, Deepwater and floating structures, combined with proven capabilities in renewable, offshore operations and industrial-scale delivery. Their repeatable development model is not only reducing reliance on fossil fuels but is also working to create thousands of jobs that will fuel local economies during the energy transition.
They have strong Tier 1 industry partnerships. With deep experience in project finance, capital structures and infrastructure investment, Cerulean Winds provides scalable, bankable solutions at the forefront of clean energy innovation.
Aspen Floating Wind Farm – Project Significance
The Floating Wind Project Approval, advantages and Scopes
The Crown Estate is secured by Scotland under the INTOG (Innovation and Targeted Oil and Gas) Lease Round (March 2023).
The 50-year option agreement covers 333 km² in the central North Sea.
The first phase of Cerulean Winds’ North Sea Renewables Grid (NSRG) will deliver over 3GW of electricity across three locations: Aspen, Beech and Sidray.
Strategic Policy Alignment, Economic and Workforce Impact
Strategic Policy Alignment, Economic and Workforce Impact
The project will be fully aligned with UK and Scottish Government targets including Clean Power 2030 and the North Sea Transition Deal.
Expected to create over 1,000 direct jobs, including apprenticeships.
Committed to maximizing engagement in the Scottish and UK supply chain from the outset.
Supports long-term regional economic growth and clean energy leadership.
Permits, National significance and Consent
GoBe consent supports their strategy; EIA submission scheduled for summer 2025.
No significant environmental constraints identified to date.
Will be a key contributor to the UK Government’s 5GW Floating Offshore Wind (FLOW) target by 2030.
Positioned to serve as a global model for scalable, clean industrial power generation
Last word
Lastly, Cerulean Winds, with deep expertise in offshore engineering, strong industry partnerships, and proven financial capabilities, is advancing the future of floating wind project through clean energy solutions that create jobs, boost local economies, and accelerate the global transition to net zero.
The UK continues to lead the way in offshore wind, with the drive for clean energy accelerating in what is still a world-beating region. A new development – the Teesport Offshore Gateway – is currently being prepared to significantly improve wind technology. Proposed by PD Ports, this ambitious project is set to open up 180 acres of strategic riverside land ready for offshore wind generation, assembly and supply chain operations.
PD ports teesport offshore represents a multi-million pound investment, it includes plans for a kilometre-long deepwater berth with unrestricted access to the North Sea. And designed to support both floating and fixed-bottom offshore wind projects, the development could be a game-changer for the by bringing the port closer.
The project is still in its early stages, awaiting changes to existing deepwater berthing consents. However, initial estimates suggest the development cost is around GBP £200 million – a testament to the scale and ambition of the venture.
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Quick Project Glimpse
Offshore Wind Location: Teesport, River Tees, UK
Site Size: 180 acres
Investment: Approx. £200 million
Access: 1km deepwater berth, open access to the North Sea
Status: Early planning stage, subject to changes to existing consents
PD Engages Industry Partners
PD Ports is actively engaging with the offshore renewable energy sector, aiming to bring together all stakeholders, including original equipment manufacturers (OEMs), developers, government agencies and industry leaders. With a view to achieving a common goal: developing a strategic roadmap for the site and identifying funding and partnership opportunities for long-term success.
Notably, the site already has planning and marine consents, subject to amendment, and these approvals will allow for the expansion of an existing berth to create a 15.5-meter deepwatermooring, capable of accommodating all current and future offshore installation vessels worldwide.
In the Words of PD Ports
France Calze
France Calze, CEO of PD Ports,stressed the potential of the project not only for the industry, but also for the community, saying:
“As the UK and the wider world turn their attention to large-scale renewable energy sources, we at Ports see the opportunity – and responsibility – to play our part by offering an offshore wind development site that is perfectly positioned to unlock our region’s potential not only as a hub for trade and industry, but also to deliver on the clean energy revolution.”
“While these proposals are at an early stage, we are confident that this development will support the UK Government’s ambitions and targets for future offshore wind power generation. We firmly believe that a facility of this type will create significant employment – driving growth, employment and skills training opportunities in our coastal communities.”
Project Timeline (Estimated)
Concept Development — Completed Planning Variation Submission — In Progress Stakeholder Engagement — Ongoing Funding & Partnerships — Exploring Assigned tasks — Manufacturing, logistics and Supply chain Construction Starting time — TBD Operational Launching time — TBD Milestone — Building a UK Offshore Wind Hub
The Core Collaboration and Significance
PD Ports are actively involved with the project and looking for
OEMs (Original Equipment Manufacturers)
Wind farm developers
UK Government departments
Industry experts and investors
What does this mean for the UK’s clean energy targets?
The project is not just an infrastructure project – it is set to represent a significant step towards achieving the UK’s offshore wind targets. It is set to:
Accelerate clean energy generation
Bring together all the technologies for wind farms
Attract global investment
Increase local employment and skills training
Strengthen the supply chain for the UK’s growing offshore wind sector and, if successful, It will tremendous effect on the clean energy goal of the UK that 90% electricity generation from renewable and net zero emission.
As the project journey progresses, all eyes will be on Teesport — and its role in shaping a sustainable future.
