TORONTO, ONTARIO--(Marketwired - Jan. 8, 2014) -
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Northland Power Inc. (TSX:NPI)(TSX:NPI.PR.A)(TSX:NPI.PR.C)(TSX:NPI.DB.A) ("Northland") today announced the addition of Sean Durfy to its executive team as President and Chief Development Officer. Mr. Durfy has been a member of Northland's Board of Directors and will assume his new role effective January 8, 2014. Sam Mantenuto, Northland's current Chief Development Officer has been appointed Vice Chair and will continue as Chief Operating Officer. John Brace, Northland's Chief Executive Officer, will continue to lead Northland's executive team.
Mr. Durfy's initial primary responsibility will be the leadership of Northland's development activities both in North America and internationally. "I am pleased that Sean Durfy has agreed to take on the role of President and Chief Development Officer at a time when we are pursuing numerous development opportunities," stated James C. Temerty, Northland's Chairman and founder. "Sean has served on Northland's board for over two years and my fellow board members and I have been impressed with Sean's drive and business acumen."
Northland's CEO, John Brace, noted, "We very much look forward to Sean joining the executive team and know that he will make a significant contribution to Northland's continuing success. We are grateful to Sam Mantenuto for his contributions as Chief Development Officer. Under his leadership, we have almost tripled our operating portfolio from 480 MW at the time of the 2009 Northland merger to 1,329 MW today. We will continue to benefit from Sam's expertise and experience as Vice Chair and Chief Operating Officer."
"As demonstrated by the Gemini offshore wind project, Northland will continue to seek development opportunities in Canada and internationally that will benefit our shareholders," added Mr. Temerty. "We are confident that Sean will continue to expand our development program, and will be an important member of our executive team under the leadership of John Brace."
Sean Durfy was appointed to Northland's board of directors on May 26, 2011. Mr. Durfy is the former President and CEO of WestJet airlines, and was previously President of ENMAX Energy Corporation, an electricity and natural gas company headquartered in Calgary, Alberta. He also held senior roles at Honeywell Limited and TransAlta. Mr. Durfy will step down from Northland's board effective immediately in order to assume his role as President and Chief Development Officer.
Northland is an independent power producer founded in 1987, and publicly traded since 1997. Northland produces '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 1,329 MW of operating generating capacity, with an additional 90 MW (60 MW net to Northland) of generating capacity currently in construction, and another 190 MW (119 MW net to Northland) of wind, solar and run-of-river hydro projects with awarded power contracts. In addition, Northland has acquired the rights to a majority equity stake in Gemini, a 600 MW offshore wind project located 85 km off the coast of the Netherlands in the North Sea. Northland's cash flows are diversified over five geographically separate regions and regulatory jurisdictions in Canada, Europe and the United States.
Northland's common shares, Series 1 and Series 3 preferred shares and convertible debentures trade on the Toronto Stock Exchange under the symbols NPI, NPI.PR.A, NPI.PR.C and NPI.DB.A, respectively.