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

Valeura Starts Wassana Platform Installation Offshore Thailand

KBR to Support Aramco’s Marjan Offshore Field Upgrade

LNG Flows Through Hormuz Hit Seven-Month High

Inpex Buys Into Two BP-Operated Indonesian Offshore Blocks

TGS to Reprocesses Seismic Data for Petronas’ Megah Discovery

Kazakhstan Resumes Action to Collect $5.2B Kashagan Field Fine

Qatar-Linked LNG Tankers Resume Hormuz Transits

Inpex Takes Additional Stake in Ichthys LNG

Eni and Petronas JV Extend Drilling Backlog for Ventura Offshore’s Semi-Sub Rig

Saudi Aramco Plans Standalone Gas Division in Major Reorganization

Current News

Riyadh Attacks Disrupt Oil Majors' Summit Plans

Iran Weighs US Response as Hormuz Reopening Talks Stall

Valeura Starts Wassana Platform Installation Offshore Thailand

Oil Stabilizes as IEA Moves to Speed Up Emergency Stock Releases

Yinson Production Raises $1.46B to Refinance Agogo FPSO

Oil Climbs on US Storm Threat, Saudi Attack Risks

KBR to Support Aramco’s Marjan Offshore Field Upgrade

Oil Industry Braces for Years of Market Disruption

Eni Taps Yinson Production for Major Ghana FPSO Gas Upgrade

ADNOC Signs Multi-Year LNG Supply Deal with Thailand’s Gulf Group

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