Gentari Acquires 49% Stake in Northland Power Inc’s Wind Power Project In Taiwan

Petronas owned Gentari, has acquired offshore wind capacity into its portfolio, following an investment into the Hai Long
offshore wind project located off the Changhua coast in the Taiwan Straits.

The investment sees Gentari taking a 49 percent stake in Canada-based Northland Power Inc.’s (Northland) ownership of the project, equivalent to a 29.4 percent indirect equity interest. Northland now holds a 30.6 per cent ownership interest in the overall project and will continue to take the lead role in the construction and operation of the project developed as a joint venture between Northland and Japan-based Mitsui & Co.

Comprising two phases, the project has an expected combined generating capacity of 1,022 MW and will play an important role in helping Taiwan achieve its renewable energy target of 15 GW of offshore wind to be constructed between 2026 and 2035. Once operational, Hai Long will be the largest offshore wind project surrounding the island, besides being one of the largest offshore wind facilities in Asia, providing enough clean energy to power more than one million households as well as industrial facilities in Taiwan.

The company said its global aspiration includes building 30 to 40 GW in renewable energy capacity by 2030 through projects across solar, onshore and offshore wind and battery storage, targeting utility-scale, commercial, industrial and retail customers.

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