Gazelle Wind Power has secured a one-and-a-half-million Euro strategic investment from Portuguese conglomerate Dstgroup to advance the Nau Azul floating wind project and demonstrate its modular platform technology for turbines of 15MW and above.
The investment, made through Dstgroup’s corporate venture arm Dstventures, will accelerate Gazelle’s development of scalable floating offshore wind solutions for Iberian and international markets.
As part of the deal, Dstgroup’s steel engineering and manufacturing subsidiary Bysteel will fabricate and construct the modular steel structures for the Nau Azul project.
According to Gazelle, the 15MW-plus platform is engineered for large-scale deployment in harsh offshore conditions and is designed to reduce motion, minimise environmental impact, and lower the levelised cost of energy.
The platform uses a compact hull geometry and counterweight-based mooring system to enable assembly in shallow-draft ports with reduced steel use compared to traditional designs.
Gazelle CEO Jon Salazar (pictured) said the partnership marks a pivotal step in accelerating the commercialisation of floating wind systems across Iberia.
“Dstgroup’s experience in scaling industrial ventures and its innovative approach to new business give Gazelle the momentum we need to quickly advance our technology,” he said.
“Combined with Bysteel’s expertise in industrial-scale production, we’re developing cost-effective offshore wind platforms that can be scaled for large commercial deployments.”
Dstgroup chairman José Teixeira said the investment aligns with the company’s energy transition strategy.
“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,” he said.
“This enhances Portugal’s leadership in offshore renewable energy innovation.”
The Nau Azul project, located off Aguçadoura on Portugal’s northern coast, is intended as a validation site for Gazelle’s floating platform.
Gazelle has secured a 10-year TUPEM (Título de Utilização Privativa do Espaço Marítimo) licence to deploy the project.
The company said the scheme will generate a range of regional economic benefits, including new supply chain jobs and industrial activity.