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Northland's Hai Long 2 allocated 300MW

By: Matthew White 30/04/2018 Northland Power

General Windfarms

Northland Power Inc. announced that the Taiwan Bureau of Energy (BOE) has allocated 300MW to the Hai Long 2 offshore wind farm under Taiwan’s Feed-in-Tariff (FIT) program.

This is a step forward for the project, as it allocates capacity for Hai Long 2 to connect to Taiwan’s grid in 2024, and advances the project’s ability to execute a 20-year power contract under Taiwan’s FIT regime. Northland and its partner Yushan Energy Pte. Ltd. (“Yushan Energy”) own 60% and 40% of Hai Long 2, respectively.

Hai Long 2 received its environmental permit in early 2018 and development work is ongoing. Project economics and financing details will be finalised as development progresses; selection of the turbine supplier and negotiation of construction contracts is underway.

In 2015, the government implemented a FIT program with long-term contracts that had the aim to "kick-start" its offshore wind sector. Northland has established a presence in Taiwan, and has been working with Yushan Energy to complete all remaining regulatory and permit-related activities needed to execute a purchase agreement for Hai Long 2 in late 2018.

“Today's announcement reflects Northland's continued growth and leadership in the offshore wind sector,” said John Brace, CEO of Northland. “This is a great accomplishment for Northland and its partners. We are proud to support Taiwan in their efforts to create a more sustainable future through the transition to renewable energy.”

Northland Power's objective is to build a global offshore wind ownership and operations platform with a full range of operating, development and investment activities. Obtaining the FIT allocation for the Hai Long 2 project further contributes to the achievement of this objective.

Hai Long 2 will leverage Northland's European offshore wind development, financing, construction and operations experience and would increase Northland's offshore operating capacity to over 1,450 MW gross capacity by 2024.

Northland is an independent power producer founded in 1987. It develops, builds, owns and operates facilities that produce 'clean' (natural gas) and 'green' (wind, solar, and hydro) energy, providing sustainable long-term value to shareholders, stakeholders, and host communities.

Yushan Energy Pte Ltd., is an offshore wind energy business and part of Singapore-based Enterprize Energy Group, a low-carbon energy business, which, in addition to the Hai Long Projects in Taiwan, has operations in Vietnam and the United Kingdom.

For more information follow the links provided.

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Northland's Hai Long 2 allocated 300MW

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