Northland Power has signed a second major offshore wind financing package within the space of a week after securing a 20-year credit agreement for 118 billion New Taiwan Dollars ($3.7bn) to give its 1GW Hai Long array in Taiwan fully-funded status.

Japan’s Mitsui group owns a 40% stake in the project.

The non-recourse project financing is expected to carry a weighted average interest cost for the term of the financing of around 5%, according to the Toronto-listed company.