Northland Power Announces Financial Close of the 1.0 GW Hai Long Offshore Wind Project in Taiwan

Toronto - Nordthland Power Inc. has successfully met all conditions for closing the green financing for the Hai Long offshore wind project in Taiwan.

Toronto - Nordthland Power Inc. has successfully met all conditions for closing the green financing for the Hai Long offshore wind project in Taiwan.

The non-recourse green project financing of 117.1 billion Taiwan dollars (approximately CAD 5 billion) is provided by over 15 international and local lenders with the support of several Export Credit Agencies (ECAs), including: Export Development Canada (EDC), Japan Bank for International Cooperation (JBIC), Nippon Export and Investment Insurance (NEXI), UK Export Finance (UKEF), Export Finance Australia (EFA), Export Finance Norway (Eksfin) and Credendo - Export Credit Agency of Belgium.

Hai Long will play an important role in helping the Taiwanese government achieve its goal of building a total of 15 GW (15,000 MW) of offshore wind between 2026 and 2035. Once operational, Hai Long will be one of Asia's largest offshore wind facilities, providing enough clean energy to power more than one million Taiwanese homes.

Source: IWR Online, 28 Sep 2023