Northland Power completes another large Offshore wind Project

  On May13 Northland Power released it's first quarter report and the results were as this blog expected.In my blog on my website Blogdaleupsome on 03/23/2020 it was predicted that Northland Power would meet it's annual guidance.And they have reaffirmed this, in this quarter.Revenues,profit and freecash flow increased by 35% while adjusted EBITDA increaed by 43% over 2019.Adjusted EBITDA is forecasted to be $1.1 to $1.25 billion for 2020 and freecash flow per share will be $1.70 to $2.05 per share.The icing on the cake in this report is the news that their third large offshore wind project is completed on budget and on time.Deutsche Bucht ,a wind farm in the North Sea,will generate 252 MW of power and have pre- completion revenues of EUR129 million with EUR63 counted in Q1
     4 or 5 new Wind and Solar Projects
  My April 23,2020 blog  discussed above stated that NPI has 4 or 5 new projects that will add important revenues in late 2020 or early 2021The first of these is the 130MW solar project called La Lucha in Mexico.NPI has also acquired a regulated utility in Columbia for $960 million.The Hai Long which is offshore of Taiwan is 1044 MW and Northland will own 60% of it.It will be generating power in 2020.In addition, it is working on Hai Long 2B and 3.They should be operational in 2021.It has also acquired the Dado Ocean Offshore in February which is potentially a huge offshore wind complex.But no completion date is given here.
        Mega Projects                  

    Back in 2015 and 2016 Northland Power mostly owned a number of solar and fossil-fuel based power generators in northern Ontario.Hence the name- Northland Power.This changed with the planning and completion of a huge 600MW Gemini offshore project in the North Sea.This was vastly different and bigger than anything else they had done.This was followed by two more mega projects,namely, Nordsee One (332MW) and now Deutsche Bucht (252MW).And suddenly revenues and earnings skyrocketed.
   Now Northland Power has 3 more mega projects that will come onstream in 2020 and two additional ones (maybe 3 counting the Nai Kun project off the B.C. coast) completed in 2021.Mega projects are difficult to plan and finance and execute.But they can be tremenduously profitable if done right.So now NPI is in a position with  the experience and a steady stream of successful mega projects in place.And adjusted EBITDA should be approaching $1.8 to $2 billion by 2021.          https://www.otpp.com/