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Engie gets approval for joint control of Portuguese floating wind project

ENGIE SA got approval from European regulators to buy a stake in a 25-MW floating offshore wind project off the coast of Portugal.

The European Commission said on Dec. 13 that it cleared the acquisition of joint control of the WindPlus SA joint venture by Engie and the two companies that currently control most of the company, EDP Renováveis, a subsidiary of Portuguese utility EDP - Energias de Portugal SA, and Repsol Nuevas Energias SA, a subsidiary of Spanish energy company Repsol SA.

WindPlus secured a €60 million loan from the European Investment Bank in October and is also receiving €29.9 million from an EU program for low-carbon demonstration projects, as well as up to €6 million from the Portuguese government.

The joint venture plans to build the wind farm using semisubmersible platforms at a depth of 85-100 meters.