Northland Power has signed a power purchase agreement with state utility Taipower for the 300MW Hai Long 2a wind farm off Taiwan.
The Canadian developer opted for a tiered tariff of NT$6279 per megawatt-hour (€179/MWh) for 10 years and NT$4142/MWh for the remaining 10 years.
Hai Long 2a is the first of three projects in the over 1GW zone. Northland said PPAs for the two other projects are expected to be finalised later this year.
Chief executive Mike Crawley said: “Today’s announcement is excellent news for Northland and demonstrates Taiwan’s commitment to becoming a leader in Asia’s bourgeoning offshore wind sector.
“Offshore wind has the potential to transform Taiwan’s economy and environment, creating jobs while helping to foster energy security.”
He added: 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 is 60% owned by Northland with local partner Yushan Energy holding a 40% stake.