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BRIEF-Northland power agrees to acquire 252 MW German offshore wind farm
March 3, 2017 / 7:53 PM / 9 months ago

BRIEF-Northland power agrees to acquire 252 MW German offshore wind farm

March 3 (Reuters) - Northland Power Inc :

* Northland power agrees to acquire 252 MW German offshore wind farm

* Total estimated project cost is approximately EUR 1.2 billion

* Says project is expected to be accretive on a free cash flow per share basis upon its completion

* Project is expected to generate over 1,000 gigawatt hours of electricity per year

* Revising its 2017 free cash flow per share guidance to be in range of $1.03 to $1.18 per share from $1.10 to $1.25 per share

* Expects to invest about $400 million corporate funds with balance of project cost provided by project financing, pre-completion revenues

* Expects investment in project will be sourced from cash on hand, corporate liquidity, and preferred shares

* Co and Highland Group Holdings Ltd have signed a definitive agreement whereby Northland will acquire 100% of Deutsche Bucht Source text for Eikon: Further company coverage:

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