WindFloat Atlantic

EDP Renewables (EDPR), Mitsubishi Corporation (through Diamond Generating Europe), Chiyoda Corporation (through Chiyoda Generating Europe), Engie, and Repsol announced a five-party consortium on 16 November 2015 to develop and build the WindFloat Atlantic (WFA) project — a 25 MW floating offshore wind demonstration project 20 km off the coast of Viana do Castelo, northern Portugal. The project was developed through the Windplus S.A. SPV. Initial equity stakes were approximately: EDPR ~23%, Mitsubishi ~20%, Chiyoda ~20%, Engie ~25%, Repsol ~12% plus Principle Power Inc ~1% (figures evolved during project development). The final operating ownership (as of 2020 commissioning) was: Ocean Winds (EDPR/Engie JV) 54.4%, Repsol 19.4%, Principle Power 1.2%, with Mitsubishi and Chiyoda having exited during the development phase. The project received EUR 29.9 million from the EU NER300 programme and an EIB loan of EUR 60 million (financial close 2018/2019). Total project cost was approximately EUR 130 million. Deal value of the JV formation itself was not disclosed. WindFloat Atlantic achieved full commercial operation in July 2020 as continental Europe's first floating offshore wind farm. This is the only confirmed offshore wind M&A event in Portugal to date; no Portuguese floating offshore wind auctions had been held by early 2026.