Northland Power's Hai Long secures $2.4 billion financing for 1 GW offshore wind project in Taiwan
Type: Financing · Technology: Offshore Wind · Country: Taiwan · Value: $2.4B · Announced: 2026-08-12
Northland Power's Hai Long offshore wind project in Taiwan secured approximately USD 2.4 billion in new Taiwan dollar-denominated debt financing with a 20-year tenor. The financing involves 35 financial institutions, including seven export credit agencies and seventeen international and Taiwanese commercial and state-owned banks, broadening the project's funding base for both construction and operations phases. Of the total financing, about USD 0.9 billion will provide incremental funding through project completion, while the remaining USD 1.5 billion will refinance existing debt. The Hai Long project, located 45 to 70 kilometers off Taiwan's Changhua County coast in the Taiwan Strait, has a total capacity of 1,022 MW and is backed by 30-year offtake contracts. Expected to begin commercial operations in 2027, Hai Long is positioned to become one of Asia's largest offshore wind projects, with overall project costs remaining aligned with original expectations.
Counterparties
- Export credit agencies (Lender)
- Hai Long (Borrower)
- Seventeen international and Taiwanese commercial and state-owned banks (Lender)
- Northland Power (Developer)
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