Northland Power Sells Stake in Taiwan Offshore Wind Farm

Thursday, December 15, 2022

Canada-based energy company Northland Power Inc. has signed a deal to sell 49% of its interest in the Hai Long offshore wind project in Taiwan to Gentari.

Upon closing, the transaction will result in Gentari holding a 29.4% indirect equity interest in the project. 

Northland will continue to be the largest shareholder of the project with 30.6% and will continue to take the lead role in its construction and operation. 

"This transaction marks a significant milestone in the development of the project, allowing Northland to partner with Gentari through equity  consideration of approximately NT $18 billion [USD $586 million].

Northland Power also said that the two companies were looking to form a larger strategic relationship to promote further expansion in Taiwan's offshore wind industry, and that they had signed an exclusivity agreement in this regard.

The Hai Long deal marks Gentari's entry into the offshore wind segment.

The total capacity of the Hai Long Project, currently under development, is 1044 MW. It is located around 50 kilometers off the Changhua coast, with water depths of up to 55 meters.

Categories: Energy Renewable Energy Industry News Offshore Wind Activity Asia

Related Stories

Petrovietnam Agrees First-Ever LNG Term Deal with Shell

ADNOC Takes FID on SARB Deep Gas Project Offshore Abu Dhabi

Saipem Lands $425M Turkish Gas Contract in Sakarya Expansion

PV Drilling’s Jack-Up Rig Returns to Asia Ahead of April Drilling Ops

South Korean Firm Buys Into Indonesian Offshore Oil Block

DOF Bags Two Deals in Asia-Pacific Region

Indonesia Tenders Eight Oil and Gas Blocks as Output Declines

Technip Energies Gets On Board Thailand’s First CCS Project

Japan’s JERA Signs First Long-Term LNG Deal with India’s Torrent Power

Harbour Energy to Sell Stakes in Indonesian Assets to Prime Group for $215M

Current News

Vantris Energy Lands Petronas Job on Malaysia’s Offshore Fields

Murphy Oil Appraisal Well Boosts Resource Outlook at Field off Vietnam

Viridien Kicks Off Multi-Client Reimaging Program off Malaysia

Petrovietnam Agrees First-Ever LNG Term Deal with Shell

ADNOC Takes FID on SARB Deep Gas Project Offshore Abu Dhabi

Jereh Group Delivers Oil Separation Systems for Petrobras’ FPSO Units

Offshore Rig Outlook: As 2025 Challenges Fade, Path Ahead Brightens

Offshore Energy and Boosting the Energy Efficiency of Water Processes

Low Demand, High Supply Keeps Asia LNG Spot Prices Flat

Following Big Loss in 2025, Oil Steadies

Subscribe for AOG Digital E‑News

AOG Digital E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

https://accounts.newwavemedia.com