Northland secures corporate PPA for offshore wind project in Taiwan
Hai Long 2B and 3 have a 744MW capacity.
Canada-based Northland Power signed a corporate power purchase agreement (PPA) for the electricity that will be generated from its Hai Long offshore wind project in Taiwan through auction.
In a statement, Northland said the 20-year period agreement was signed with an investment grade counterparty, covering 100% of the power to be produced from the Hai Long 2B and 3, which have a combined capacity of 744-megawatt (MW).
The agreement will start once the project reaches full commercial operations in late 2026, it said.
“This agreement marks Northland’s first signed corporate PPA and aligns with our commitment to supporting the global decarbonization efforts by governments and corporate entities through the development of renewable energy. In particular, the development of Hai Long will support Taiwan’s transition to renewable energy,” said Northland President and CEO Mike Crawley.
Under the agreement, Hai Long 2B and 3 will receive a fixed price for delivering power and Taiwan Renewable Energy Certificates during the contract period.
Northland said the projects in 2018 were initially allocated grid capacity for connection under Taiwan’s fixed auction programme and were awarded PPAs with Taiwan Power Company (Taipower). It said that the contracted price under the CPPA is “more favourable than the fixed auction-rate awarded in 2018.
Hai Long is composed of three offshore wind sites which are being developed as a single project, that have a combined capacity of 1,044MW. Aside from the Hai Long 2B and 3, it has the 300MW Hai Long 2A which entered a 20-year PPA with Taipower in 2019 under a feed-in-tariff allocation.
The company has a 60% interest in Hai Long.