EnergyWatch

Canadian outsiders rewarded in battle for European offshore wind

It made a direct impact on the company's bottom line that Canadian energy company Northland was one of the first North American utilities to venture into offshore wind.

The company is just 30 years old, and perhaps its young age is why Canada's Northland Power had the gumption to make huge investments in offshore wind while other North American utilities are sticking to gas and coal on the domestic market.

Northland Power booked growth in sales of 25 percent in 2017 landing at CAD 1.4 billion (EUR 896 million). Meanwhile, net earnings rose 45 percent to CAD 276 million, according to the just released annual report from the firm.

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