DeepWind has been presented as a novel floating offshore wind turbine concept with cost reduction potentials. Twelve international partners developed a Darrieus type floating turbine with new materials and technologies for deep-sea offshore environment. This paper summarizes results of the 5 MW DeepWind conceptual design. The concept was evaluated at the Hywind test site, described on its few components, in particular on the modified Troposkien blade shape and airfoil design. The feasibility of upscaling from 5 MW to 20 MW is discussed, taking into account the results from testing the Deepwind floating 1 kW demonstrator. The 5 MW simulation results, loading and performance are compared to the OC3-NREL 5 MW wind turbine. Finally the paper elaborates the conceptual design on cost modelling.