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Gentari International Renewables Closed a 49% Investment in Hai Long’s Offshore Wind Industry, Reinforcing Its Commitment to Renewable Energy.
Gentari International Renewables made a 49% investment in the Canadian energy company Northland Power for the offshore renewable energy project of Hai Long in Taiwan.
Now, Northland holds a 30.9% equity stake in the overall project and will continue to lead the construction and operation of Hai Long, the company indicated.
This transaction marks another important milestone for the Hai Long offshore wind project after the recent financial closing of the secured debt for the project.
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Gentari and Northland: Strategic Partnership in the Hai Long Offshore Wind Project
In addition to Northland and Gentari, Mitsui & Co holds the remaining 40% of the project.
Mitsui & Co: Satisfaction with the Successful Transaction
Gentari is pleased with the successful completion of this transaction. Today, we celebrate a strategic partnership with Northland for the Hai Long offshore wind project.
Commitment to Advancing Renewable Energy
Bringing Gentari to the forefront of the offshore wind industry, this is an important milestone in our commitment to advancing renewable energy globally.
Gentari: Partner in Clean Energy Solutions
This not only aligns with our vision for a sustainable future, but also positions Gentari as a valuable partner in clean energy solutions in promoting changes to achieve net zero goals,” said Sushil Purohit, CEO of Gentari.
Capital Investment in the Hai Long Project
The total cost of Hai Long is projected at approximately US$ 6.8 billion, with US$ 3.8 billion of the costs covered by non-recourse debt provided by project lenders, approximately US$ 756 million of pre-closing revenues derived during the project’s construction phase, and the remaining capital investment contributed by the project partners.
Energy Renewable Energy Industry News Offshore Wind Asia
