Gazelle Wind Power Banks $1.7M for Floating Wind Demonstrator
July 16, 2025
Gazelle Wind Power, a Dublin-based floating wind developer, has secured $1.7 million investment through strategic agreement with dstgroup, a Portuguese conglomerate, aimed at advancing floating wind technology and Nau Azul demonstration project off Portugal.
dstgroup will through its corporate venture capital firm dstventures provide the investment to Gazelle Wind Power, as well as help with fabrication and construction of the modular steel structures for Gazelle’s Nau Azul project via its steel engineering and manufacturing subsidiary bysteel.
The Nau Azul project will feature Gazelle’s patented platform, which uses a unique geometry and counterweight system that reduces steel use, significantly cutting CAPEX and simplifying industrialization.
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 off the coast of Aguçadoura in Portugal.
Gazelle’s patented floating platform, engineered for industrial-scale rollout with turbines of 15MW and larger, combines unique hull geometry with a counterweight-based mooring system.
It has been designed 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, according to the company.
“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,” said Jon Salazar, Gazelle Wind Power CEO.
“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.
“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,” added José Teixeira Chairman of dstgroup.
