Northland Power completed the acquisition of a portfolio of operating onshore renewable assets in Spain from Plenium Partners and Bankinter-backed Helia Renovables for $1.27bn.

Northland Power, a power generation company, completed the acquisition of a portfolio of operating onshore renewable assets in Spain from Plenium Partners and Bankinter-backed Helia Renovables, a provider of investment services, for $1.27bn. “Today's announcement further demonstrates Northland's continued growth and leadership in renewable energy and establishes Northland as a top player in one of Europe’s most attractive markets over the next decade for renewables, storage and hydrogen. Through this acquisition we will also establish a European asset management platform that can support entry into other attractive European onshore renewables markets. This transaction is consistent with our strategy and positions Northland for further growth and diversification, while providing us with near-term cash flow," Mike Crawley, Northland President and Chief Executive Officer.