Press Release Source: Northland Power Inc. On Wednesday July 6, 2011, 11:24 am EDT
TORONTO, ONTARIO–(Marketwire – 07/06/11) – Northland Power Inc. (“Northland” or “the Company”) (TSX:NPI – News)(TSX:NPI.PR.A – News)(TSX:NPI.DB – News)(TSX:NPI.DB.A – News) announced that the Ontario Power Authority (“OPA”) has accepted the Company’s application for a contract under the Feed-in-Tariff (FIT) Program for a 100 megawatt (MW) wind farm in the Grand Bend area. In the near future, the OPA will invite Northland to sign a 20-year power purchase agreement for the clean energy the facility will generate. The wind farm had been in a project queue, pending upgrade of the Bruce-to-Milton Ontario power transmission line.
Northland expects to provide additional information regarding its anticipated timing and capital investment for this project in the coming weeks.
ABOUT NORTHLAND POWER INC.
Northland owns or has an economic interest in 9 power projects totalling over 1,050 MW (net 818 MW). Northland’s assets comprise natural-gas-fired plants which efficiently and cleanly produce electricity and steam as well as facilities generating renewable energy from wind and biomass. Sales are made almost entirely under long-term contracts with a current weighted average duration of 14 years. Northland’s plants are located in Canada, the United States and Germany. In addition, Northland has the 86 MW Spy Hill project, 260 MW North Battleford project and 100 MW Mont Louis wind farm in construction, and 216 MW of wind, solar and run-of-river hydro projects awarded under the Ontario Power Authority’s feed-in-tariff program in advanced stages of development. Northland also has a diverse development portfolio of high-quality ‘Clean and Green’ energy projects, including wind, solar, natural gas, and hydro assets to support its strategy of sustainable growth primarily through internally developed opportunities.
Northland’s common shares, preferred shares and two series of convertible debentures, which trade on the Toronto Stock Exchange under the symbols NPI, NPI.PR.A, NPI.DB and NPI.DB.A, respectively.