Northland Power Achieves First Power on Hai Long Offshore Wind Project
TORONTO, June 12, 2025 (GLOBE NEWSWIRE) -- Northland Power Inc. (TSX: NPI) today announced first power from its Hai Long Offshore Wind Project in Taiwan, marking successful energization of the project and connection to Taipower's grid. This achievement comes ahead of the second half of 2025, underscoring the project's strong construction momentum.
The milestone also includes the commissioning of both onshore and offshore substations, further demonstrating the project's progress toward full commercial operations, anticipated in 2027.
'Achieving first power is a significant milestone for Northland and reflects the dedication of our team and partners,' said Christine Healy, President and CEO of Northland Power. 'We extend our deepest appreciation to our joint teams, partners, and contractors for their extraordinary efforts.' Since the commencement of construction, Hai Long has made substantial progress, including the production of jacket foundations and pin piles, installation of the Hai Long 2 and 3 offshore substations, installation of all 219 pin piles, assembly of Taiwan's first locally manufactured 14 MW wind turbine nacelle and the installation of 14 out of 73 turbines.With a planned capacity of 1 GW, Hai Long will play a vital role in supporting Taiwan's renewable energy target of 15 GW of offshore wind between 2026 and 2035. Once operational, Hai Long will be among the largest offshore wind farms in the Asia-Pacific region, providing clean electricity to over one million Taiwanese homes.
'This milestone is a testament to the teamwork, technical excellence, and shared commitment from all involved,' said Toby Edmonds, Executive Vice President, Offshore Wind. 'First power represents real progress, not just for Hai Long, but for Taiwan's broader offshore wind ambitions. We're excited to keep building on this momentum.'
ABOUT NORTHLAND POWER
Northland Power is a Canada-based global power producer dedicated to accelerating the global energy transition. Founded in 1987, with almost four decades of experience, Northland has a long history of developing, owning and operating a diversified mix of energy infrastructure assets including offshore and onshore wind, solar, battery energy storage, and natural gas. Northland also supplies energy through a regulated utility.
Headquartered in Toronto, Canada, with global offices in seven countries, Northland owns or has an economic interest in 3.5 GW of gross operating generating capacity, 2.2 GW under construction and an inventory of early to mid-stage development opportunities encompassing approximately 10 GW of potential capacity.
Publicly traded since 1997, Northland's Common Shares, Series 1 and Series 2 Preferred Shares trade on the Toronto Stock Exchange under the symbols NPI, NPI.PR.A and NPI.PR.B, respectively.
FORWARD-LOOKING STATEMENTS
This news release contains statements that constitute forward-looking information within the meaning of applicable securities laws ('forward-looking statements') that are provided for the purpose of presenting information about management's current expectations and plans. Readers are cautioned that such statements may not be appropriate for other purposes. Northland's actual results could differ materially from those expressed in, or implied by, these forward-looking statements and, accordingly, the events anticipated by the forward-looking statements may or may not transpire or occur. Forward-looking statements include statements that are predictive in nature, depend upon or refer to future events or conditions, or include words such as 'anticipates', 'expects,' 'believes,' or negative versions thereof and other similar expressions or future or conditional verbs such as 'may,' 'will,' 'should,' 'would' and 'could.' These statements may include, without limitation, statements regarding Northland's expectations for the completion of construction and anticipated timing thereof, the anticipated sequence of construction operations, the timing for and attainment of commercial operations, the expected generating capacity of the project, and the future operations of the project, all of which may differ from the expectations stated herein. These statements are based upon certain material factors or assumptions that were applied in developing the forward-looking statements, including the design specifications of development of the project, the current construction schedule of the project, the provisions of contracts to which Northland or a subsidiary is a party, as well as other factors, estimates, and assumptions that are believed to be appropriate in the circumstances. Although these forward-looking statements are based upon management's current reasonable expectations and assumptions, they are subject to numerous risks and uncertainties. Some of the factors include, but are not limited to, those described in the 'Risks Factors' section of Northland's Management's Discussion and Analysis and Annual Information Form for the year ended December 31, 2024, which can be found at www.sedarplus.ca under Northland's profile and on Northland's website at northlandpower.com. Northland has attempted to identify important factors that could cause actual results to materially differ from current expectations, however, there may be other factors that cause actual results to differ materially from such expectations. Northland's actual results could differ materially from those expressed in, or implied by, these forward-looking statements and, accordingly, no assurances can be given that any of the events anticipated by the forward-looking statements will transpire or occur, and Northland cautions you not to place undue reliance upon any such forward-looking statements.
The forward-looking statements contained in this release are, unless otherwise indicated, stated as of the date hereof and are based on assumptions that were considered reasonable as of the date hereof. Other than as specifically required by law, Northland undertakes no obligation to update any forward-looking statements to reflect events or circumstances after such date or to reflect the occurrence of unanticipated events, whether as a result of new information, future events or results, or otherwise.
For further information, please contact:
Adam Beaumont, SVP, Capital Markets416-962-6262investorrelations@northlandpower.com
Victor Gravili, Head of Global Brand & Integrated Communications647-288-1105
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/17ae669f-e75d-409e-8587-a601cf05766a
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