NPIFF - Northland Power enters Spanish renewables market in C$1.5B deal

Northland Power (NPIFF) agrees to acquire an operating portfolio of operating onshore renewable projects in Spain from Plenium Partners Asset Management for €345M (C$520M) and the assumption of €716M (C$1.075B) of debt.Northland says the acquisition, with a total combined net capacity of 540 MW, places it as a top 10 renewable power operator in Spain.The company says the addition of the portfolio’s near-term cash flow helps fund the development of its large offshore wind projects as new markets continue to emerge for offshore wind globally.Northland also announces a concurrent C$900M bought deal equity financing to fund the acquisition as well as projects within its identified 4-5 GW renewable development pipeline.

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Northland Power enters Spanish renewables market in C$1.5B deal