Northland Power Inc. has closed its previously announced sell-down transaction with Gentari International Renewables Pte. Ltd., a subsidiary of clean energy solutions company Gentari Sdn Bhd ("Gentari"). The investment sees Gentari taking a 49 percent stake in Northland’s ownership of Hai Long, equivalent to a 29.4 percent indirect equity interest. Northland will continue to take the lead role in Hai Long’s construction and operation as a joint venture between Northland and Mitsui & Co.
This transaction, which follows financial close earlier this year, is a testament to the attractiveness of the project and Taiwan’s investment climate. The policy framework, which included transparent seabed leasing, a feed-in tariff, and clear permitting rules, which the Taiwan government established for these offshore wind projects, has made it a desirable and bankable place to invest.
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Media Contact
Hai Long Offshore Wind
Jewell Hsu, Senior Public Relations Manager
+886-900-841-211 / jewell.hsu@hailongoffshorewind.com