Northland Power expands it's investment in the North Sea

     On March 10 Northland Power gave a press release stating that it will undertake a new wind farm project in the North Sea just offshore the German mainland;it will be called Deutsche Bucht.It will be about 125 kilometers from the mainland and the total cost will be $1.2 billion Euros.This will nicely expand the Northland Power footprint in the North Sea.It should  be completed by mid 2017 and dovetail nicely with the coming onstream of their Nordsee One (332 MW) project.Deutsche Bucht is in advanced development stage but NPI will  need to add a further $500 million to aid in it's completion.This blog believes that if Northland does a good job here and helps to delivers 252MW of power to the German mainland that this could be  helpful in getting regular approvals required to begin full commission of Nordsee One.Nordsee One is expected to come onstream in mid-2017. It may even help speed up  full approval of Nordsee Two and Three that Northland Power is expected to  build later in the North Sea area.                    

    More work to Do
      Northland expects more work will have to be done on installing the turbines and the offshore cable.The additional construction costs may go as high as $400 million.NPI's previous experience should be useful here.Northland intends to use it's Gemini (another North Sea project) contractor and it's supply vessel to help;Van Oord was very effective in building their Gemini project on time and should be able to meet the mid-2017 schedule.Once the project is operational Deutsche Bucht should be immediately accretive with a fixed feed- in tariff for 13 years.Once completed and financing arranged Northland will own 100% of this third wind farm.      use Workathon for business news;use Workathon for business news