Canadian company Northland Power has signed a power purchase agreement (PPA) for Taiwan Power Company’s (Taipower) Hai Long 2A offshore wind project, based on its 300MW feed-in-tariff (FIT) allocation.
The PPA was secured by a subsidiary of Northland Power.
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Under the agreement, Hai Long 2A has entered a 20-year PPA with Taipower at the 2019 FIT rate of TWD6.2795 per kWh and TWD4.1422 per kWh for the first and second ten-year periods respectively.
The Taiwanese Government implemented the FIT programme in 2015 to provide long-term contracts designed to inaugurate its offshore wind sector.
Northland Power president and CEO Mike Crawley said: “Today’s announcement is excellent news for Northland and demonstrates Taiwan’s commitment to becoming a leader in Asia’s burgeoning offshore wind sector.
“Offshore wind has the potential to transform Taiwan’s economy and environment, creating jobs while helping to foster energy security.
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By GlobalData“This project also aligns with Northland’s commitment to deliver long-term value to shareholders, while supporting the global transition to clean and green energy sources.”
Hai Long 2A is jointly owned by Northland (60%) and its partner Yushan Energy (40%), and the first of the three Hai Long projects (1,044MW) to receive its PPA.
Currently, Northland and Yushan Energy are engaged in the development of the Hai Long 2B and Hai Long 3 offshore wind projects in Taiwan.
In May 2018, Northland Power was awarded a contract by the Taiwan Bureau of Energy (BOE) to connect 300MW from the Hai Long 2 offshore windfarm to the country’s grid.
