The EC's Horizon 2020 scheme has awarded EDPR €19.2 million towards the total €26.8 million project costs.
Demogravi3 uses three concrete caissons in a triangular formation at the base of a tripod foundation.
The design has been evaluated for water depths between 35 and 60 metres and up to 8MW turbines, according to the project's website.
The gravity-base system means the foundation and turbine can be fully constructed onshore. It also allows the entire stucture to be towed out to the project site without the need for heavy-lift vessels, EDPR said.
Once at the site, the circular caissons are flooded to secure the foundation to the seabed.
EDPR said the Demogravi3 project will see a prototype of the foundation installed at a site 6km off the Portuguese coast in 2017 and use the underwater cable installed for EDPR's other floating WindFloat project.
The 2MW WindFloat turbine, installed in 2011, will be decommissioned in summer 2016 ahead of the second phase of the project being installed further north, EDPR said.
The company is supported on the project by a number of partners from across Europe, including the Technical University of Madrid, Acciona Infrastructures, the German Fraunhoffer Institute and Global Maritime in Norway.
The funding has been awarded through the EC's Horizon 2020 programe. The research scheme has made €80 billion available to support innovation for all European companies and universities.
The Horzion 2020 programme also supported the UK's ORE Catapult and Norwegian marine technology institute Marintek in the development of two floating structures to support 10MW turbines.