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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
WindFloat Atlantic floating wind power project from EDPR, Engie, Repsol and Principle Power.
WindFloat Atlantic floating wind power project from EDPR, Engie, Repsol and Principle Power.EDPR
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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.