Posted by: Windfair Editors
Northland Power secures financing for Taiwanese Hai Long OWF
Official Press Release Northland Power:
Northland Power Announces Signing of Credit Agreement for $5.0 Billion Project Financing at Hai Long Offshore Wind Project
Hai Long is a 1.0 gigawatt (GW) offshore wind project being developed as a joint venture between Northland (60 per cent) and Mitsui & Co. (40 per cent).
Northland Power Inc. (Northland) (TSX: NPI) today announced that its Hai Long offshore wind project (Hai Long or the project) in Taiwan has signed a credit agreement to secure 118 billion New Taiwan Dollars long-term over 20 year non-recourse financing (equivalent of $5 billion CAD). The weighted average all-in interest cost for the term of the financing is expected to be approximately five per cent. The non-recourse project financing will be provided by over 15 international and local lenders with support from multiple Export Credit Agencies (ECAs) from six different countries. The project is expected to reach... ... More: Official Press Release Northland Power
- Keywords:
- Northland Power. credit agreement, financing, wind farm, offshore, Taiwan, Mitsui, Hai Long, joint venture, costs, MW, capacity
