Issue 38 – Offshore Wind Power
Northland Power Inc (TSX: NPI) is emerging as a leader in wind power. NPI’s operating capacity is 1,754 MW, and of that amount, 696 MW is being attributed to wind. NPI is continuing to expand its wind portfolio, especially offshore. At the end of the year, NPI will be commissioning the Nordsee One offshore project. This will bring about a net increase of 285 MW to the portfolio. NPI is also working on their 252 MW Deutsche Bucht offshore project; its commissioning is planned to take place at the end of 2019. NPI is thriving and becoming a leader in the offshore wind power sector. After speaking with management, we believe the next offshore wind expansion will take place in Asia. We view this positively as this probable expansion would diversify the company’s offshore portfolio away from Europe.