dstgroup Backs Gazelle Wind Power with €1,5M Strategic Investment
to Advance Nau Azul Project and Demonstrate Scalable Floating Platform for +15MW Wind Turbines
bysteel (dstgroup’s steel engineering and manufacturing subsidiary) will develop steel structures for Nau Azul Project, advance next-gen offshore wind rollout across Iberia
VIANA DO CASTELO, Portugal & BRAGA, Portugal–(BUSINESS WIRE)–#floatingoffshorewind–Gazelle Wind Power (Gazelle), the developer of a next-generation floating offshore wind platform technology, and dstgroup, a Portuguese conglomerate, have entered into a strategic agreement through which dstventures (dstgroup’s corporate venture capital firm) will invest €1,5M into Gazelle. In addition to this investment, dstgroup’s steel engineering and manufacturing subsidiary, the award-winning bysteel, will fabricate and construct the modular steel structures for Gazelle’s Nau Azul project.
Global offshore wind installations are set to grow from 8 GW in 2024 to 50 GW by 2033. Large turbines will play a key role in scaling the industry and lowering the levelized cost of energy (LCoE), and a single 15MW turbine can power up to 20,000 European homes. The Nau Azul project, which is located off the coast of Aguçadoura, Portugal, will serve as validation of Gazelle’s floating wind platform, which has been structurally sized for Portugal’s harsh offshore conditions and engineered for industrial-scale rollout with turbines of 15MW and larger.
Gazelle’s patented floating platform, which combines unique hull geometry with a counterweight-based mooring system, has been engineered to reduce motion, minimize environmental impact, and dramatically lower cost of energy (LCoE), making floating wind more viable. The design allows for a compact structure to be assembled in shallow-draft ports, using less steel and delivering a smaller footprint than traditional floating platforms.
“Our partnership with dstgroup marks a pivotal step in accelerating the commercialization of floating wind systems across Iberia. Their experience in scaling industrial ventures and innovative approach to new business ventures gives Gazelle the momentum we need to quickly advance our technology,” commented Gazelle Wind Power CEO, Jon Salazar. “Combined with bysteel’s innovative approach to industrial scale production and design, we’re developing cost-effective offshore wind platforms that can be scaled for large-scale commercial deployments.”
“Our investment in Gazelle Wind Power aligns with dstgroup’s strategy of advancing the energy transition through solutions that combine engineering excellence with environmental responsibility,” said José Teixeira, Chairman of dstgroup. “We are thrilled to contribute to what promises to be a landmark demonstration of the scalability of floating wind platforms to turbine sizes of 15MW and above, which enhances Portugal’s leadership in offshore renewable energy innovation.”
Recently, Gazelle secured the approval of a 10-year TUPEM (Título de Utilização Privativa do Espaço Marítimo) authorization, clearing the way for the deployment of the Nau Azul floating wind project, which is expected to generate a range of economic benefits for the region, including the creation of new jobs across the local supply chain.
About Gazelle Wind Power
Gazelle Wind Power Limited is accelerating the commercialization of the floating offshore wind market with its next-generation platform. Gazelle’s solution is poised to become the benchmark for the industry with a design that is targeted to lower costs, enable local content, utilize pre-existing port infrastructure, and incorporate shipbuilding construction with modular assembly. The floating platform offers high stability and easy transport, installation, and maintenance while preserving fragile marine environments. The company is based in Dublin and Viana do Castelo and has a presence in Vigo and London.
For more information, visit www.gazellewindpower.com.
About dstgroup
dstgroup is a Portuguese business group founded in Braga in the 1940s. Its core activity is in Engineering & Construction – the sector where it began and in which it remains a national benchmark. Responding to evolving market demands, the group has gradually expanded into complementary areas such as Environment, Renewable Energy, Telecommunications, Real Estate, and Ventures, bringing together a wide range of expertise across its companies.
A committed cultural patron, dstgroup sees support for Culture and the Arts as a fundamental part of its identity – reflected in its brand signature building culture. For over 30 years, it has promoted the “dst Grand Prize for Literature”, a major national award, alongside various initiatives that encourage reading both within the organization and in the broader community. In 2019, it launched the “dstangola/Camões Literature Prize”. The group also supports numerous social, cultural, and educational institutions.
About bysteel
bysteel and bysteel fs specialize in the design, engineering, manufacturing, and installation of steel structures and façades for landmark architectural projects. From its 50,000 m² headquarters and industrial facilities in Braga, it delivers architectural envelopes and metal structures to projects across the globe.
With full operational capacity across Europe, as well as in the Americas and Africa, bysteel is supported by international offices in the UK, France, Monaco, the Netherlands, and Angola.
For more information, visit: https://www.dstsgps.com/intro/#/#intro
Contacts
Media Contact
For Gazelle Wind Power:
Wendy Prabhu | Mercom Communications
US: +1.512-347-0300
UK: +44.203.617.1930
gazelle@mercomcapital.com
