Ontario-based Northland plans to buy 55% stake, and said it will “actively participate in Project Gemini by taking a lead role during the remainder of development as well as construction and operations”.
The total project cost of Gemini is expected to be C$3.8bn ($3.66bn), said Northland. It expects financing via a combination of non-recourse project debt, mezzanine financing and equity from a consortium that now includes Northland itself, developer Typhoon Offshore, Siemens and HVC, a group of Dutch municipalities.
It
