Brief: Northland Power Announces Signing Of Credit Agreement For $5 Bln Project Financing At Hai Long Offshore Wind Project

Northland Power (Ontario)

22/09/2023 04:49

Sept 21 (Reuters) - Northland Power Inc  NPI.TO :
    * NORTHLAND POWER ANNOUNCES SIGNING OF CREDIT AGREEMENT FOR
$5.0
BILLION PROJECT FINANCING AT HAI LONG OFFSHORE WIND PROJECT
    * NORTHLAND POWER- PROJECT IS EXPECTED TO PROVIDE STRONG
FREE CASH
FLOW AND ADJUSTED EBITDA UPON ACHIEVING FULL COMMERCIAL
OPERATIONS IN 2026/2027
    * TOTAL CAPITAL COST OF PROJECT IS PROJECTED TO BE
APPROXIMATELY
$9 BILLION
    * NORTHLAND'S INTEREST IN HAI LONG IS EXPECTED TO GENERATE
FIVE-YEAR AVERAGE OF ABOUT $230 TO $250 MILLION OF ADJUSTED
EBITDA
    * NORTHLAND POWER-CO'S INTEREST IN HAI LONG EXPECTED TO
GENERATE
FIVE-YEAR AVERAGE OF ABOUT $75 TO $85 MILLION OF FREE CASH FLOW
PER YEAR ONCE OPERATIONAL

Source text for Eikon:  ID:nGNX6Twtv9 
Further company coverage:  NPI.TO 

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