Northland Power owns and operates a global portfolio of wind, solar, and natural gas-powered electricity assets spanning North America, Europe, and Asia From jefflagerquist
) sees higher interest rates and supply chain challenges raising costs by up to 30 per cent for its advanced offshore wind farms.latest renewable energy player to complain of heftier costs to borrow money and build projects
"You can't discount what's going on in the market today," he told investors last Friday. "Supply chain constraints put a big priority on us locking down our supply contracts on our big projects much earlier than we would have done otherwise." Northland now plans to spend between $16 billion and $19 billion over the next five years on its project pipeline, up from the $12 billion to $15 billion range issued last year. The company cited a combination of project cost inflation and additional projects.
"With onshore renewables, we have set up development teams in countries with some of the most ambitious renewable energy targets, and best commercial regimes. [The] best places to do business in. We look forward to carving out a position in energy storage."
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