João Metelo, Principle Power CEO, to leave company

Mr Metelo has been with the company for more than seven years. The company said Mr Metelo and Principle Power’s board and management team have been working for several months to ensure a smooth transition in the lead up to his departure. “An appointment to replace him has not yet been made but the process is well underway,” the company said.

Mr Metelo joined Principle Power in February 2014. At the time, the company had fewer than 10 employees and was still integrating learnings from the WindFloat prototype, which had been operating offshore Portugal for three years. The company was gearing up to tackle the next, pre-commercial phase of floating offshore wind development projects.

Mr Metelo leaves the company with Principle Power established globally and the floating wind market transitioning to commercial-scale projects. The company has expanded to more than 100 employees on three continents, with 105 MW of WindFloat units in operation, late-stage construction, or development.

Principle Power also has a multi-GW pipeline of large-scale projects, with a strong financial position. “These facts are testimony to João’s important role in building the company, the market and a strong shareholder and funding base to support the company’s scale-up and global expansion,” the company said.

Mr Metelo said, “This is an incredibly exciting time for the floating offshore wind industry, which is now a global commercial market that is growing exponentially. I am extremely thankful for having played a part in this great story of creating a whole new renewable energy resource, which will positively impact the world for generations to come.”

A spokesperson for the company’s board said, “We are grateful to João for his strong leadership through a period which has seen the company and the floating wind industry transition. He departs leaving a great foundation to continue to build on at Principle Power, where we have exciting and ambitious plans for industrialisation and commercialisation.”