NextFloat+ Project Secures €13.4m Grant from European Commission’s Innovation Fund to Advance Floating Wind Technology
June 25, 2024 – The NextFloat+ Project has secured a €13.4m grant from the European Commission’s Innovation Fund. The project, led by a consortium of X1 Wind, Technip Energies, and NextFloat Plus aims to accelerate the rollout of next-generation floating wind technology by enhancing competitiveness and scalability.
The grant will fund the deployment of a 6MW floating wind platform at a test site in the Mediterranean Sea, showcasing a cost-effective integrated system that minimizes seabed footprint impact. This pre-commercial prototype, called ‘X90,’ will pave the way for large-scale deployment of floating wind solutions.
The NextFloat+ Project builds upon the successful PivotBuoy Project, which demonstrated the effectiveness of X1 Wind’s innovative technology in the Canary Islands. The project will introduce additional innovations to reduce the levelized cost of energy (LCOE) of floating wind and its environmental impact.
The Innovation Fund, financed by EU Emissions Trading System revenues, supports highly innovative clean technologies and flagship projects that can significantly reduce emissions and greenhouse gases. To date, it has awarded €6.5 billion to over 100 projects across EEA countries.
