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

Petroliam Nasional-backed Gentari, a clean energy company, completed the acquisition of a 49% stake in the Hai Long offshore wind project from Northland Power, a power producer, for C$800m ($588m). “Northland is delighted to welcome Gentari as an official long-term partner of the Hai Long offshore wind project and believes that they will add significant value. Once completed, Hai Long will be the largest offshore wind project in Taiwan and will provide much needed clean energy to the grid and significant long-term, sustainable value to Taiwan’s economy. The project financing for Hai Long close in September was the largest in Taiwan and one of the largest globally. This completes Northland’s funding plan for the project, which is a huge milestone for the organization and is a testament to the value of the Hai Long project as an asset and the attractiveness of Taiwan as a market for green investment,” Mike Crawley, Northland President and CEO.