Renewable Energy M&A: Hai Long Offshore Wind Sold at a Whopping $6.4mn/MW Multiple

🌬️ Northland Power finalizes the sale of a 29.4% stake in the 1 GW Hai Long offshore wind project to Gentari Renewables, at an EV of $1.97bn

📈 Robust Market Indication: The deal's multiple, at $6.4mn/MW, is twice the rate of recent comparable offshore wind transactions in Germany, signalling a strong market valuation.

💡 Strong Revenue Expectations: Enerdatics highlights the deal's significant multiple, driven by the project's solid revenue potential, underpinned by a 20-year Feed-in-Tariff: $200/MWh for the first 10 years, then $130/MWh for the next 10.

🤝 Deal Value Structure: This deal, which was initially announced last year, represent a $1bn equity consideration and Gentari’s share of the $4.1bn non-recourse debt linked to the project.

The above analysis is proprietary to Enerdatics’ energy analytics team, based on the current understanding of the available data. The information is subject to change and should not be taken to constitute professional advice or a recommendation.

Click to know more about Enerdatics' Renewable Energy M&A, Finance, PPA, and Projects databases.