The NextFloat+ project has been supported by a €13.4 million grant from the European Commission’s Innovation Fund. The main objective of this project is to accelerate the deployment of the next generation of floating wind power technology improving its competitiveness and capacity for energy expansion.
NextFloat+ project receives 13 million euros
The main contractor is the company X1 Wind, in collaboration with Technip Energies and NextFloat Plus SAS, the project involves the installation of a 6 MW floating wind platform in the Mediterranean. The pre-commercial prototype, named ‘X90’, will showcase a cost-effective and efficient system composed of a lightweight and structurally efficient floating platform with SPM(Single Point Mooring) and TLP(Tension Leg Platform), minimizing impact on the seabed.
In addition, the capital injection will advance the industrialization and expansion of this integrated floating wind energy solution, reaching scales above 20 MW. According to Alex Raventos, X1 Wind’s President, this announcement comes after receiving a Statement of Feasibility and Compliance from DNV, a world leader in independent certification.“We are honored to have the support of the Innovation Fund” commented Raventos.
X1 Wind technology
The NextFloat+ project will build upon the results of the PivotBuoy project, which successfully demonstrated the company’s innovative technology with a partial-scale prototype in the Canary Islands. It will also introduce additional innovations to reduce the levelized cost of floating wind power and its environmental impact, such as the patented quick-connect system and the implementation of a bio-pulse system on the float.
The PivotBuoy floating wind platform in heavy weather conditions. Source: X1 Wind.
The Innovation Fund, financed by the EU Emissions Trading Scheme, focuses on highly innovative clean technologies and large flagship projects with European added value that can generate significant greenhouse gas emission reductions. To date, it has granted EUR 6.5 billion to more than 100 projects in EEA countries.
“This grant is vital to the financing of NextFloat+, adding to the resources already secured through the European Commission’s Horizon Europe program, the France 2030 plan managed by ADEME, and the financial backing of partners and shareholders. This will allow us to make significant improvements in the competitiveness of floating wind power as we prepare for its massive global deployment.”
Alex Raventos, CEO and co-founder of X1 Wind
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Source and photo: X1 Wind
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