Northland Power may be ahead of Schedule

     Northland Power has a reputation of building their projects on schedule and on budget.They have already built two wind farms in the North Sea on schedule and on budget,namely Gemini and Nordsee One.Both were bigger than their present 269 MW wind farm called Deutsche Bucht (german for German Bay).The project was acquired for $1.4 billion but with additions it will cost $1.9 billion.Originally scheduled for completion at the end of 2019 but now it seems to be ahead of schedule.
       Northland draws on North Sea Experience
In 2017 NPI finished completion of a North Sea wind farm called Gemini just offshore of the Dutch coast. And in 2018 finished  building a project called Nordsee One ,just offshore the German coast.In doing so they established a solid team to help them complete their projects on time and on budget.This team they decided to use again to erect Deutsche Bucht,their present North Sea project.Vestas (a Danish firm) will supply turbines and Van Oord (a Dutch firm) will do the installations.This team is familiar with North Sea conditions and worked  with NPI before.Now the preliminary word is that things are going well again. All 33 monopiles(foundations) have been installed.Now a technical website has reported on May 9 that turbines will begin to be installed in June.There are 33 of the 8.4 MW turbines.If one is installed every 3 days then completion should be by early September.Furthermore the offshore substation called Bowrin Beta has already been constructed and awaiting connection of undersea cables.Allowing for mistakes and badweather in the North Sea this would make completion of the  turbine installations by late November.And connection of the undersea cable shortly after.This is only a 'ballpark figure" but NPI should be somewhere in this ballpark.                                              

            What is the Difference?
   Some investors will ask what is the difference whether they finish installations in December 2019 or June 2020? The German Electrical Authority has not yet stated when DeBu can  commission it's  power generated.However in the case of both of their other 
North Sea wind farms the Dutch and the German Electrical Authority allowed NPI to earn pre-completion revenues.Electricity will flow to the German mainland before project completion and some deutschemarks will flow into the NPI books.And much of this initial revenue will flow to the bottom line.Investors should not expect pre-completion revenues in Q3 but it may be a factor in Q4.This will put actual EBITDA at the top end of NPI's range.  https://www.credit-suisse.com/ca/en.html https://www.vaneck.com/row/