Northland invests $1bn in Spanish renewables

Canadian company sees Spain as base for European expansion

Canada-based Northland Power is making a major push into the European renewables sector with the acquisition of a 540MW wind and solar portfolio from Helia Renovables for a total of $1bn, including debt. The portfolio includes 33 operating assets comprising 424MW of onshore wind, 66MW of solar photovoltaic and 50MW of concentrated solar, located throughout Spain. The deal is expected to close in the third quarter of 2021. Northland says it plans to use the use the acquisition as a base for further European expansion. “Through this acquisition, we will also establish a European asset management platform that can support entry into other attractive European onshore renewables markets,” says Mi