Northland power signs power purchase agreement for hai long 2a offshore wind project – marketwatch gas tax in new jersey

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TORONTO, Feb 26, 2019 (GLOBE NEWSWIRE via COMTEX) — Northland Power Inc. (Northland) (NPI) today announced that its subsidiary has executed a Power Purchase Agreement (PPA) with Taiwan Power Company (Taipower) for its Hai electricity and magnetism pdf Long 2A offshore wind project, based on its 300 MW Feed-in-Tariff (FIT) allocation. Northland and its partner Yushan Energy Co. Ltd. (Yushan Energy) own 60% and 40% of Hai Long 2A, respectively. Hai Long 2A is the first of the three Hai Long projects (1,044 MW total capacity) to receive its PPA.

Hai Long 2A has entered into a 20-year gas house gang power PPA with Taipower at the 2019 FIT rate of NTD 6.2795/kWh and NTD 4.1422/kWh for the first and second 10-year periods, respectively. In 2015, the Taiwan government implemented the FIT program to provide long-term contracts designed to inaugurate its offshore wind sector. Project economics and financing details will be finalized as development progresses.

Mike Crawley, President and Chief Executive Officer of Northland Power noted, 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 gas ark to transform Taiwan’s economy and environment, creating jobs while helping to foster energy natural gas in spanish security. 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.

This release contains certain forward-looking statements which are provided for the purpose of presenting information about management’s current expectations and plans. Readers are cautioned that such statements may not be appropriate for other purposes. Forward-looking statements include statements that are predictive in nature, depend upon or refer to future events or conditions, or include words such as expects, anticipates, plans, believes, estimates la gas prices, intends, targets, projects, forecasts or negative versions thereof and other similar expressions, or future or conditional verbs such as may, will, should, would and could. These statements may include, without limitation, statements regarding Northland’s expectations or ability to complete any future a gas is compressed at a constant pressure of offerings of securities. These statements are based upon certain material factors or assumptions that were applied in developing the forward-looking statements, including Northland’s potential need for future capital or its ability to raise capital, if needed. Although these forward-looking statements are based upon management’s current reasonable expectations and assumptions, they are subject to numerous risks and uncertainties. Some of the factors that could cause results or events to differ from current expectations include, but are not limited to, construction risks, counterparty risks, operational risks 76 gas card payment, foreign exchange rates, regulatory risks, maritime risks for construction and operation, and the variability of revenues from generating facilities powered by intermittent gas natural renewable resources and the other factors described in the Risks and Uncertainties section of Northland’s 2018 Annual Report and Annual Information Form, both of which can be found at www.sedar.com under Northland’s profile and on Northland’s website northlandpower.com. Northland’s actual results could differ materially from those expressed in, or implied by, these forward-looking statements and, accordingly, no assurances can be given that any of the events anticipated by the gas in back trapped forward-looking statements will transpire or occur.

The forward-looking statements contained in this release are based on assumptions that were considered reasonable on date of release. Other than as specifically required by law, Northland undertakes no obligation to update any forward-looking statements to reflect events or circumstances after such date or to reflect the occurrence of unanticipated events, whether as a result of new information, future events or results, or otherwise.