in News Departments > Projects & Contracts
print the content item

Ontario-based Northland Power Inc. has entered into agreements for the rights to acquire a 55% equity stake in the 600 MW Gemini offshore wind project. Currently in advanced development, the project is located 85 km off the coast of The Netherlands in the North Sea.

The project team includes Siemens, Netherlands-based developer Typhoon Offshore B.V.; Netherlands-based marine contractor Van Oord Dredging and Marine Contractors B.V.; and HVC N.V., a joint venture of 48 Dutch municipalities and six water regulatory authorities.

The project will be constructed under a two-contract strategy involving Siemens and Van Oord: Siemens was selected as the preferred turbine supplier, and Van Oord will be responsible for supply and installation of the wind turbine foundations and the entire electrical infrastructure. Northland says it intends to take a lead role during the remainder of development as well as construction and operations.

Northland's total net investment will be approximately C$400 million, consisting of mezzanine and equity financing, in addition to credit support in the amount of approximately C$32 million to secure agreements with the Dutch government. The company’s investment is subject to various final approvals

Construction of Gemini is expected to start in late 2014, with commercial operation slated for 2017.




Trachte Inc._id1770
Latest Top Stories

Despite 2013 Challenges, U.S. Wind Power Reaches All-Time Low Price

In a new report, the U.S. Department of Energy details the highs and lows of the country's wind industry last year, and the agency maintains that the U.S. sector remains strong.


Mexico On Pace To Set New Renewables Investment Record

A new report says the country has spent $1.3 billion on clean energy in the first half of 2014 and could end up seeing a record year. Furthermore, wind power is slated for significant growth in the region.


IRS Issues More PTC Guidance, Easing Some Wind Industry Concerns

The Internal Revenue Service (IRS) addresses how much work is needed on a wind farm to satisfy production tax credit (PTC) eligibility.


Embryonic No More: U.S. Offshore Wind Industry Gaining Momentum

After a decade of fits and starts, the industry is moving closer to installing the first generation of wind projects off the country's shores.


AWEA: U.S. Installs 853 MW Of Wind In First Half Of 2014

The American Wind Energy Association (AWEA) reveals the U.S. industry's progress thus far this year and underscores the importance of policy certainty.

Canwea_id1984
Renewable NRG_id1934
Tower Conference_id1965