Petronas’ clean energy unit Gentari has marked its inaugural entry into the offshore wind segment buying into a project in Taiwan.

The company struck a deal to acquire 49% of Northland Power’s ownership interest in the Hai Long offshore wind project for around C$800m ($590m). The Hai Long is one of Taiwan’s largest offshore wind farms jointly developed by Northland Power, Yushan Energy and Mitsui & Co. The project will comprise two offshore wind farms, Hai Long 2 and Hai Long 3, with a total installed capacity of approximately 1.04 GW. Commissioning is due to start in 2025.

Upon closing, the transaction will result in Gentari holding a 29.4% indirect equity interest in the project. In comparison, Canada’s Northland will remain the single largest shareholder with 30.6% and will continue to take the lead role in its construction and operation.

Recently launched Gentari has an established target of building 30 to 40 GW in renewable energy capacity by 2030 and has also agreed with Northland to work on establishing a broader strategic partnership, promoting further growth in Taiwan’s offshore wind industry.