Ideol secures €5 million for floating platform demo

FRANCE: Marseille-based Ideol has secured €5 million in new funding to help build and install a demonstration model of its concrete floating platform off the French coast this year.

A cross-section of Ideol's design for the floating platform

Three new investment funds — HPC Capital, PACA Investissement and CPG — and three existing shareholders — Demeter 3 Amorcage Fund, Emergence Innovation 1 Fund and the IO Group — stumped up a total of €3.8 million.

Two banks, BNP Paribas and Caisse d'Epargne, agreed a further €1.2 million loan financing.

This is in addition to a grant of €7.3 million from French environment and energy management agency Ademe.

The demonstrator, equipped with a Gamesa 2MW turbine, is scheduled to be installed at France's SEM-REV test site, off Le Croisic, in the autumn. It will be France's first turbine installed offshore.

The government has announced it will call for expressions of interest in June to build a floating pilot project.