Dutch Offshore Wind Farm Completed ahead of Schedule

Northland Power Inc. has confirmed that the 600 MW Gemini offshore wind farm achieved full completion on April 28, 2017. The project was completed ahead of schedule and under its total budget of EUR2.8 billion.

All 150 turbines have been operating since October 2016 and, to date, have generated over EUR250 million of net pre-completion revenues. Full completion marks the official end of construction and signifies that all of the terms required to satisfy the project lenders for term conversion have been achieved. Concurrent with achieving full completion and term conversion of the loan, Gemini has also successfully and favourably restructured the project's EUR2 billion senior debt. This restructuring will reduce loan margins, remove the original cash sweep... ... More: Official Press Release Northland Power

Keywords:

Gemini, Dutch, Netherlands, Northland Power, offshore