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

Eni Makes Significant Gas Discovery Offshore Indonesia

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

Blackford Dolphin Semi-Sub to Keep Drilling Offshore India

MODEC Forms Dedicated Mooring Solutions Unit

Mooreast to Assess Feasibility of Floating Renewables Push in Timor-Leste

Malaysia Issues First Offshore CCS Permit to Petronas Subsidiary

Sponsored: Energy and Finance Chiefs Call for Sound Policy, Stable Frameworks at ADIPEC

Southeast Asia’s 2GW Cross-Border Offshore Wind Scheme Targets 2034 Buildout

Marco Polo Picks Salt Ship Design for Next-Gen Offshore Energy CSOV

Sapura Energy Rebrands to Vantris Energy

Current News

Eni Makes Significant Gas Discovery Offshore Indonesia

Petronas Enlists MISC for FPU Job at Gas Field Offshore Brunei

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

India's ONGC Set to Retain 20% stake in Russia's Sakhalin-1 Project

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

Eni Expands Asian Footprint with Long-Term LNG Contract in Thailand

Finder Energy Buys Petrojarl I FPSO for Timor-Leste Oil and Gas Projects

CNOOC Puts New South China Sea Development Into Production Mode

ADES Nets $63M Contract for Compact Driller Jack-Up off Brunei

Mubadala Energy, PLN Energy Primer Team Up for Andaman Sea Gas Supply

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