Northland said it has agreed to buy the residual 5% stake of Gemini’sdeveloper, Typhoon Offshore.
The Typhoon stake will be added to the rights to 55% of Gemini’s equitythat Northland agreed to buy in August last year.
The Canadian group will be the majority stakeholder in Gemini along witha consortium of Siemens – which will supply 4MW wind turbines – Van Oord and HVC,a group of Netherlands municipalities.
Northland said: "Acquiring the rights to a majority equity stake inGemini is consistent with our commitment to fostering sustainable growth thatallows us to deliver reliable returns to investors.”
Gemini
