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Announced

Petroliam Nasional-backed Gentari to acquire a 49% stake in the Hai Long offshore wind project from Northland Power for C$800m.

Financials

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Transaction Value£477m
Consideration TypeCash
Capital Owned-
Capital Bid For49%
EV/Sales-
EV/EBITDA-
Share Price Premium-
One Off Charge-

Tags

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offshore wind projects

Pending

Cross Border

Taiwan

Friendly

Minority

Single Bidder

Renewable Energy Equipment

Acquisition

Private

Synopsis

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Petroliam Nasional-backed Gentari, a clean energy company, agreed to acquire a 49% stake in the Hai Long offshore wind project from Northland Power, a power producer, for C$800m ($588m). “Today’s announcement is a significant milestone for Northland as it represents the first transaction as part of our partnership model. We are delighted to welcome Gentari as part of the partnership in the Hai Long offshore wind project and look forward to developing the broader strategic partnership in Hai Long and potentially further beyond. This partnership is further evidence of the global interest in developing renewable energy projects to aid global decarbonization efforts and the transition to low carbon economies," Mike Crawley, Northland President and CEO.

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