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Principle Power, EDP, InovCapital, Vestas and Partners Sign Agreement for Deployment of First Full-scale 2MW WindFloat

SEATTLE Feb. 18, 2011 Portugal Portugal A. Silva Matos

WindFloat is a patented floating support structure for offshore wind turbines with a simple and economic design. Innovative features of the WindFloat dampen wave and turbine induced motion, enabling offshore wind turbines to be sited in previously inaccessible locations where water depth exceeds 50m and wind resources are superior.

The project calls for Principle Power to deploy a full-scale WindFloat, with a Vestas V80-2.0MW offshore wind turbine, off the Portuguese coast in 2011. The system will be tested in Agucadoura – an EDP grid connected site – for no less than 12 months, with a focus on performance validation of the WindFloat and turbine integration. In addition, commissioning/decommissioning and O&M studies will be conducted.

The project will make use of existing Portuguese industrial capacity and skilled labor for a majority of the fabrication and installation activities. Principle Power will carry full responsibility for project execution. Vestas will be delivering, installing and commissioning a Vestas V80-2.0MW wind turbine for the project. Turbine delivery will take place in 2011. Moreover, Vestas will be the technology reference for the project, supporting the integration of the wind turbine and the WindFloat platform.

Major subcontractors for the project have been chosen and include ASM and MPG, Marine Innovation & Technology, Houston Offshore Engineering, Bourbon Offshore, Smith Berger Marine, Vryhof, and Solidal. The American Bureau of Shipping has been selected as an independent certification agency.

Project funding has been secured through contributions from project partners and a non-refundable grant from Fundo de Apoio a Inovacao (FAI).

Antonio Mexia

Joao Fernandes Portugal

Alla Weinstein Portugal Portugal

Anders Soe-Jensen, President, Vestas Offshore explained: "At Vestas, we are continuously looking into different solutions and materials that will bring even more value to our customers in future offshore wind power plants. In that respect, floating foundations are one of the solutions with potential for harvesting wind in deeper water offshore sites."

Juan Araluce

About Principle Power

www.principlepowerinc.com

About EDP

www.edp.pt Portugal Spain Brazil Portugal Spain Europe Brazil

About InovCapital

www.inovcapital.pt

About Vestas

www.vestas.com

About ASM

www.asilvamatos.pt

SOURCE Principle Power, Inc.

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