19/10/2018 (Agence Europe) – The European Investment Bank (EIB) is to grant a €60 million loan to the Portuguese company Windplus to build a floating wind farm, the Commission announced on Friday 19 October. The loan, which is backed by the European Commission as part of the Horizon 2020 research and innovation programme, will be used to build three wind turbines that sit upon floating platforms located 20 km off the coast of northern Portugal. This procedure allows the turbine to produce electricity further from the coast where water is much deeper and winds are stronger and more constant. The wind farm will have an installed capacity of 25 megawatt, equivalent to the energy consumed by 60,000 homes over the course of a year. (LC)