Netherlands

Netherlands

Northland buys further stake in Gemini offshore project

NETHERLANDS: Canadian utility firm Northland Power has agreed to buy a further stake in the 600MW Gemini offshore wind farm.

The project willl use Siemens 4MW turbines shown here in onshore testing
The project willl use Siemens 4MW turbines shown here in onshore testing

Northland will now hold a 60% stake in the project in the Dutch North Sea after striking a deal to by Typhoon Offshore's 5% holding.

The company said is has taken a lead role in completing the remaining outstanding development activities and intends to continue its "active leadership role during construction and into operations".

Financial terms of the deal were not revealed.

In August last year, Northland bought a majority stake in the project from Typhoon Offshore, again for an undisclosed sum.

Permitting for the development was completed following the withdrawal of objections from the country's fishing associations in December.

The project is expected to cost EUR 2.8 billion and offshore construction is due to start in July 2014, with the aim of bringing the project online by the end of 2016.


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