Gentari acquires offshore wind capability with partnership in Hai Long project
Gentari takes a 49 percent stake in Northland Power Inc’s ownership of the project set to become one of the largest offshore wind facilities in Asia upon completion.
KUALA LUMPUR, Malaysia – 29 December 2023 – Clean energy solutions provider Gentari, through its subsidiary Gentari International Renewables Pte Ltd has added 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.
“Gentari is pleased to expand into the offshore wind sector through this strategic partnership with Northland for the Hai Long offshore wind project. Bringing Gentari to the forefront of the offshore wind industry is a powerful step towards realising our clean energy ambitions and an important milestone in our commitment to help advance the adoption of renewable energy globally. The project not only aligns with our vision for a sustainable future and our aim to contribute meaningfully to a cleaner tomorrow, but also strengthens Gentari’s position as a valued clean energy solutions partner in achieving net zero goals,” commented Sushil Purohit, Chief Executive Officer of Gentari.
“Northland is delighted to welcome Gentari as an official long-term partner of the Hai Long offshore wind project. We believe Gentari will add significant value to amplify our impact in this space. Together, we are embarking on a journey where our aligned vision and collaborative effort can further accelerate progress towards a sustainable energy future,” said Mike Crawley, President and Chief Executive Officer of Northland.
Gentari’s 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.