SOURCE: Northland Power Inc.

Northland Power Inc.

February 29, 2016 21:30 ET

Northland Announces First Power to Shore on Gemini Offshore Wind Project

First Wind Turbine Generating Energy

TORONTO, ON--(Marketwired - February 29, 2016) - Northland Power Inc. ("Northland") (TSX: NPI) (TSX: NPI.PR.A) (TSX: NPI.PR.B) (TSX: NPI.PR.C) (TSX: NPI.DB.B) (TSX: NPI.DB.C) announced that the first turbine of the 600 MW Gemini offshore wind project located in the North Sea is now producing power.

Installation of the turbines will continue throughout 2016, led by the project's EPC contractor and co-owner Van Oord Dredging and Marine Contractors BV (Van Oord) and turbine supplier Siemens. The project is expected to be completed in 2017. Energy generated will flow into the Netherlands at Eemshaven where the project connects to TenneT's high voltage grid. Electricity supplied to the grid prior to full commercial operation will generate revenue that will be used to fund a portion of the project's construction costs.

The wind farm encompasses two 34 square kilometer areas and is located 85 kilometers off the coast of Groningen in the Netherlands. Invisible from the coast, the project will generate energy in a part of the North Sea where wind speeds are among the best in the world for offshore wind power.

"To have the first turbine up and running represents another critical achievement on our first offshore construction project. This significant milestone follows construction of the electric infrastructure in 2015, and installation of the turbine foundations in only 110 days", said John Brace, CEO of Northland. "We are very pleased that the project continues to advance on budget and on schedule, and would like to acknowledge the extraordinary efforts of the Gemini team, partners, and contractors."

The project is owned by Northland Power (60%), Siemens Financial Services (20%), Van Oord (10%) and N.V. HVC (10%). Once fully operational Gemini will generate clean and renewable energy for 1.5 million people in the Netherlands.

ABOUT NORTHLAND

Northland is an independent power producer founded in 1987, and publicly traded since 1997. Northland develops, builds, owns and operates facilities that produce 'clean' (natural gas) and 'green' (wind, solar, and hydro) energy, providing sustainable long-term value to shareholders, stakeholders, and host communities.

The Company owns or has a net economic interest in 1,338 MW of operating generating capacity and 1,032 MW (692 MW net to Northland) of generating capacity under construction, including a 60% equity stake in Gemini, a 600 MW offshore wind project, and an 85% equity stake in Nordsee One, a 332 MW offshore wind project, both located in the North Sea; as well as a 100 MW onshore wind farm in Grand Bend, Ontario currently in construction.

Northland's cash flows are diversified over four geographically separate regions and regulatory jurisdictions in Canada and Europe.

Northland's common shares, Series 1, Series 2 and Series 3 preferred shares and Series B and Series C convertible debentures trade on the Toronto Stock Exchange under the symbols NPI, NPI.PR.A, NPI.PR.B, NPI.PR.C, NPI.DB.B, and NPI.DB.C, respectively.

FORWARD-LOOKING STATEMENTS

This release contains certain forward-looking statements which are provided for the purpose of presenting information about management's current expectations and plans. Readers are cautioned that such statements may not be appropriate for other purposes. Forward-looking statements include statements that are predictive in nature, depend upon or refer to future events or conditions, or include words such as "expects," "anticipates," "plans," "believes," "estimates," "intends," "targets," "projects," "forecasts" or negative versions thereof and other similar expressions, or future or conditional verbs such as "may," "will," "should," "would" and "could." These statements may include, without limitation, statements regarding future adjusted EBITDA, free cash flows, dividend payment and dividend payout ratios, the construction, completion, attainment of commercial operations, cost and output of development projects, the resolution of the arbitration claims, plans for raising capital, and the operations, business, financial condition, priorities, ongoing objectives, strategies and outlook of Northland and its subsidiaries. These statements are based upon certain material factors or assumptions that were applied in developing the forward-looking statements, including the design specifications of development projects, the provisions of contracts to which Northland or a subsidiary is a party, management's current plans, its perception of historical trends, current conditions and expected future developments, as well as other factors that are believed to be appropriate in the circumstances. Although these forward-looking statements are based upon management's current reasonable expectations and assumptions, they are subject to numerous risks and uncertainties. Some of the factors that could cause results or events to differ from current expectations include, but are not limited to, construction risks, counterparty risks, operational risks, foreign exchange rates, regulatory risks, maritime risks for construction and operation, and the variability of revenues from generating facilities powered by intermittent renewable resources and the other factors described in the "Risks and Uncertainties" section of Northland's 2015 Annual Report and Annual Information Form, both of which can be found at www.sedar.com under Northland's profile and on Northland's website www.northlandpower.ca. Northland's actual results could differ materially from those expressed in, or implied by, these forward-looking statements and, accordingly, no assurances can be given that any of the events anticipated by the forward-looking statements will transpire or occur.

The forward-looking statements contained in this release are based on assumptions that were considered reasonable on February 29, 2016. Other than as specifically required by law, Northland undertakes no obligation to update any forward-looking statements to reflect events or circumstances after such date or to reflect the occurrence of unanticipated events, whether as a result of new information, future events or results, or otherwise.

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