Northland takes majority stake in Nordsee cluster

GERMANY: Northland Power has acquired an 85% stake in the 1GW Nordsee cluster currently being developed by RWE Innogy in the North Sea.

Northland Power has acquired an 85% stake in the Nordsee cluster
Northland Power has acquired an 85% stake in the Nordsee cluster

The Canadian utility acquired the equity stake in the Nordsee 1, 2 and 3 projects located 40 kilometres from Juist island off of northern Germany from the German company, which retains a 15% interest.

Nordsee 1, Northland said, expects to reach financial close near year and completion is planned for 2017. The 332MW project had agreed to use 54 of Senvion's 6MW turbine but a fault with the machines led to the tender being reopened earlier this year.

It is also eligible for a fixed feed-in tariff subsidy for ten years under the new German renewable energy act.

RWE will continue to contribute its knowledge and personnel to the Nordsee 1 project, according to Northland CEO John Brace.

The second and third installments of the cluster, totaling approximately 670MW, are in earlier stages of development Northland with move forward with them "over the next decade".

Northland is also leading the consortium developing the 600MW Gemini project offshore Netherlands.

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