Northland Power Inc., an Ontario-based independent power producer, has entered into agreements for the rights to acquire Typhoon Offshore B.V.'s 5% interest in Gemini, a 600 MW offshore wind project currently in advanced development in the North Sea. Subject to final documentation and board approval, this deal would boost Northland's intended majority equity stake in Gemini to 60%.
‘Acquiring the rights to a majority equity stake in Gemini is consistent with our commitment to fostering sustainable growth that allows us to deliver reliable returns to investors,’ says James Temerty, chairman of Northland Power's board of directors. ‘The accretive nature of this project will benefit Northland's shareholders over the long term.’
