TORONTO, ONTARIO--(Marketwired - March 13, 2014) - Northland Power Inc. ("Northland") (TSX:NPI)(TSX:NPI.PR.A)(TSX:NPI.PR.C)(TSX:NPI.DB.A)(TSX:NPI.DB.B) one of Canada's leading independent producers of wind, solar, and thermal power for over 25 years, will be named North American Developer of the Year by the influential power industry publication Project Finance at its annual awards banquet in New York City on March 13, 2014.
Northland was chosen by the publication's editorial team based on a number of criteria, including the diversity and breadth of two high profile bond financings completed over the past year. The award also recognizes Northland's entry into the burgeoning offshore wind market with the 600 MW offshore wind project Gemini in the North Sea, and the advancement of Northland's significant ground-mount solar portfolio. The solar portfolio now includes eight operating facilities with another five in construction.
"It is an honour to have our accomplishments acknowledged by a publication as trusted as Project Finance," said John Brace, Chief Executive Officer of Northland Power. "Northland has grown significantly in recent years, almost tripling our megawatts in operation since 2009. This growth trajectory has been possible because of our sustained focus on delivering high quality projects and innovative financing solutions, while continuously enhancing shareholder value. With proven success developing projects in Canada, we look forward to expanding our footprint across further markets in Canada and internationally, and continuing to deliver growth that is strategic and measured."
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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 1,349 MW of operating generating capacity, with an additional 110 MW (80 MW net to Northland) of generating capacity currently in construction, and another 150 MW (79 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. 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, NPI.DB.A and NPI.DB.B, respectively.