SOURCE: Northland Power Inc.

Northland Power Inc.

February 20, 2015 09:15 ET

Northland Power Announces Closing of Frampton Wind Project Sale

TORONTO, ON--(Marketwired - February 20, 2015) - Northland Power Inc. ("Northland") (TSX: NPI) (TSX: NPI.PR.A) (TSX: NPI.PR.C) (TSX: NPI.DB.B) (TSX: NPI.DB.C) is pleased to announce the closing of the sale of its 66.7% interest in the Frampton Wind Farm to Boralex Inc. The remaining 33.3% of the 24MW advanced stage development project is owned by the host municipality of Frampton, Quebec. Upon closing, Northland received consideration of approximately $11.5 million for its interest in the project.

The sale enables Northland to realize the project's economic returns at an earlier stage and focus its resources on other larger scale development and construction projects. Northland will use the proceeds for general corporate purposes, and to fund a portion of its investments in Nordsee One and the Grand Bend Wind Farm.

Northland currently owns and operates two wind farms in Quebec totaling 228 MW, and remains committed to maintaining a strong presence in the province's renewable energy industry.

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 1,345 MW of operating generating capacity; 640 MW (400 MW net to Northland) of generating capacity under construction, including a 60% equity stake in Gemini, a 600 MW (360 MW net to Northland) offshore wind project in the North Sea near the Netherlands; and 432 MW (332 MW net to Northland) of projects with awarded power contracts under advanced development, including an 85% equity stake in Nordsee One. Northland's cash flows are diversified over four geographically separate regions and regulatory jurisdictions in Canada and Europe.

Northland's common shares, Series 1 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.C, NPI.DB.B, and NPI.DB.C, respectively.

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