Offshore staff
BANDHOLM, Denmark – Floating Power Plant (FPP) has secured €17.65 million ($21.39 million) in R&D tax credits for an offshore floating wind and wave project at Plocan off the coast of the Canary Islands.
This will help finance the demonstrator project: the Spanish Tax Agency has approved the initial three years of anticipated expenses as qualifying for the country’s R&D tax credit program.
Chris McConville, FPP general manager, said: “The security of knowing that the planned project is eligible for this support allows us to progress with confidence towards the final investment decision planned for later this year.”
The demonstrator will have a total power capacity of 5 MW (wind and wave power) and should remain in operation for up to 10 years. According to FPP, it will be the world’s first multi-megawatt hybrid floating wind and wave energy system.
FPP Canarias will also provide a stage for future developments, such as trialing new sensors, control algorithms or materials, prior to commercial application, and the project will receive revenue from the power generated, which will be delivered to the grid in Gran Canaria.
04/29/2021
