Principle Power to Welcome João Amaral as Chief Executive Officer

2 December 2025

Emeryville, CA, December 2, 2025 – Principle Power announces João Amaral as the new Chief Executive Officer, succeeding Julian Arrilaga Costa, who will remain in an advisory role until end-year to ensure a smooth transition.

João joins Principle Power after serving as Group Chief Technology Officer at the French Independent Power Producer Voltalia where he delivered the company’s global technology strategy across wind, solar, hydro, storage and biomass sectors. João brings more than 20 years of renewable energy experience leading diverse teams and complex projects from planning through deployment across continents which delivered value and built a strong track record. His experience and leadership will now drive Principle Power’s next phase of commercial growth in floating wind.

João Amaral brings a proven track record in growth, technology, and industrialization that aligns with Principle Power’s ambition to keep making floating offshore wind a reality for the energy transition. The Board has full confidence in his leadership and in the talented teams already in place. This transition ensures continuity for our stakeholders and reinforces Principle Power’s position as floating wind enters a new phase of scale. We also thank Julian Arrillaga Costa for the significant progress Principle Power has achieved under his leadership and for his continued support during the transition.

Bautista Rodríguez
— Chairman of Principle Power, and COO of Ocean Winds

I am honored to step into the role of Chief Executive Officer at Principle Power. Floating wind is maturing and Principle Power is well positioned with proven execution and performance, backed by validated processes and methods, and an experienced team. We will continue to leverage our data advantage from 105 MW projects using WindFloat® to strengthen the competitiveness of Principle Power’s technologies and services. We will also build on our established supply chain alliances and industrialized technology base to continue reducing LCoE in line with cost curves seen in other renewable energy technologies. Principle Power enters this next phase of commercial growth from a position of strength and will continue to lead as floating wind scales.

João Amaral
— Newly appointed CEO of Principle Power

Building on the experience of the projects using WindFloat® designs - 25 MW WindFloat Atlantic, 50 MW Kincardine, and the 30 MW Les Éoliennes Flottantes du Golfe du Lion (EFGL) - Principle Power is working closely with clients, suppliers, and operators to plan the delivery of the first generation of 15+ MW floating turbines for wind projects in key wind markets.

These projects are supported by Principle Power’s industrialization plan that aligns with existing manufacturing capacity while preparing the technology for automated processes that strengthen project competitiveness and support the global expansion of the industry.

Overview of Principle Power’s track record:

12 WindFloat® units installed or under installation or decommissioned
13 years of field operational experience and 17 project-years of cumulative operations: WindFloat 1: 2011-2016 in Portugal plus 2018-2020 in Scotland; WindFloat Atlantic: 2020-present in Portugal; Kincardine: 2021-present in Scotland.
300,000 hours of cumulative operational experience.
1 TWh global WindFloat® energy production.
0 (zero) lost time incidents.
20 m maximum wave height encountered.
214 Km/h (59.6 m/s) maximum wind speed encountered (equivalent to category 4 typhoon).
Completed tow-to-shore floating offshore wind turbine large corrective operations at Kincardine, proving the technical feasibility of the approach and yielding lessons to optimize planning for future tow-to-shore large correctives.
Supported the world’s first in-situ floating offshore wind turbine large corrective operations at Kincardine, demonstrating feasibility for certain types of major component replacements, and providing optionality to developers.

About Principle Power

Principle Power is a global leader in floating wind technology, providing full lifecycle engineering services that deliver reliable, de-risked, and bankable solutions. Principle Power works with developers, independent power producers, utilities, and EPCs to deliver integrated designs that minimize project risk and maximize energy output. The WindFloat® portfolio consists of four modular platform technologies optimized for turbines above 15MW and suitable for any supply chain setup. With 75 MW capacity in operation (the 25 MW WindFloat Atlantic in Portugal, and the 50 MW Kincardine Offshore Wind Farm in Scotland) and 30 MW under construction (EFGL in France), the technology has proven resilient in the challenging Atlantic and North Sea weather conditions, delivering more than 1 TWh of clean energy since WindFloat 1 was installed in 2011.

Principle Power is working with customers and partners to commercialize floating wind in different regions with a robust project industrialization plan that emphasizes compatibility with existing manufacturing capacity, while also advancing a vision for purpose-built, automated WindFloat® factories to drive costs and schedule to a minimum. Principle Power offers unique, full-lifecycle services combining dedicated expert teams, validated design tools, and proven processes that have been refined based on real-world operational experience providing confidence from the earliest design phases. Principle Power has secured exclusivity to supply WindFloat® technology to commercial-scale projects in all key floating wind markets totaling 14+ GW of projects secured or under design contract.

For more information, visit principlepower.com

4 September 2025