Danish floater eyes €10m push
Floating Power Plant hires Johnston Carmichael to raise cash
Danish developer Floating Power Plant (FPP) has hired Scottish business advisers Johnston Carmichael to help it raise €10m to develop wave/wind projects in the UK.
FPP general manager Chris McConville said the investment is needed to drive forward the company’s strategy for commercialization, technology development and its Scotland and Wales projects with Irish co-developer DP Energy.
Last September, the two companies established 50/50-owned UK vehicles, Katanes Floating Energy and Dyfed Floating Energy, to develop floating wind sites featuring its wave device incorporated in a semi-submersible platform.
The Dyfed project is likely to be located to the south of Port of Milford Haven, while Katanes will develop a site off Caithness.
FPP's P80 technology concept combines a 5-8MW floating wind turbine with a 2-3MW wave device.
Image: Floating Power Plant Concept (FPP)