Energy & Science
Floating Wind Gets a $22 Million Boost From Tokyo Gas
- Tokyo Gas invests in floating wind company Principle Power
- Floating technology could open vast new areas to green power
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Japanese natural gas company Tokyo Gas Co. Ltd has made a bet that the future of renewable power will be floating at sea.
The more than $22 million investment in developer of floating platforms for wind turbines Principle Power Inc. is a sign that fossil fuel companies are continuing to invest to prepare their businesses for a low-carbon future. Tokyo Gas joins existing shareholders including EDP - Energias de Portugal SA, Repsol SA and Aker Solutions ASA.