Northland Power achieved first power at Baltic Power in Poland and secured $2.4B in debt for Hai Long in Taiwan. Both projects are on budget and on schedule for commercial operations.
Alpha Score of 56 reflects moderate overall profile with moderate momentum, moderate value, moderate quality. Based on 3 of 4 signals — score is capped at 90 until remaining data ingests.
Northland Power delivered first offshore wind electricity to Poland's national grid at its Baltic Power project, the company said Wednesday. The 1.1 GW project has 61 of 76 turbines installed and 15 generating power. It remains on schedule for commercial operations in the second half of 2026, with costs tracking original expectations.
The 1.0 GW Hai Long project in Taiwan is further along. Of 73 turbines, 71 are installed and 59 are generating power. Hai Long is on track for commercial operations in 2027. In August, the project secured a 20-year NTD 55 billion ($2.4 billion) debt facility. About $0.9 billion of that is incremental funding through completion; the rest replaces existing debt. The company expects pre-completion revenues and the new facility to cover remaining funding needs.
Hai Long also expanded its existing 30-year corporate power purchase agreement in April. Once administrative procedures are finished later this year, 100% of the project's capacity will be contracted to the same off-taker.
"As Baltic Power and Hai Long progress toward commercial operations, we are approaching an important inflection point where our proven execution capabilities will deliver incremental long term contracted cash flow," CEO Christine Healy said in the release.
Northland shares trade at $18.85 on the TSX. The company has an Alpha Score of 56 out of 100, placing it in the Moderate category. The stock page is at /stocks/ngg.
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