Wind Energy – Hai Long Taiwan
Canadian energy company Northland Power has agreed to sell its 49% stake in the 1.04GW Hai Long offshore wind project in Taiwan to Gentari International Renewables.
The deal will allow Northland Power to partner with Gentari through an equity consideration of nearly TWD18bn ($586m).
The final equity consideration is subject to closing adjustments and the purchase and sale agreement terms.
Once the deal has closed, Gentari will hold a 29.4% indirect equity interest in the Hai Long offshore wind farm.
Northland will continue as Hai Long’s single largest shareholder, with a 30.6% stake. It will also continue to lead the project’s construction and operations activities.
The two companies have also signed an exclusivity agreement to promote the growth of Taiwan’s offshore wind industry.