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Press release from Marketwire

Northland Announces Premium Dividend Reinvestment Plan

Wednesday, November 09, 2011

Northland Announces Premium Dividend Reinvestment Plan17:23 EST Wednesday, November 09, 2011TORONTO, ONTARIO--(Marketwire - Nov. 9, 2011) - Northland Power Inc. ("Northland") (TSX:NPI)(TSX:NPI.PR.A)(TSX:NPI.DB.A) announces an amendment to its Dividend Reinvestment Plan (the "Plan").The newly amended Plan will enable Northland to issue Common Shares purchased through the Plan at a discount, initially of 5%, to the price of the Common Shares determined as described below. The Plan will become effective on November 21, 2011 following the execution of the Plan Agent agreement and listing of required treasury shares with the Toronto Stock Exchange ("TSX"). The first dividends eligible for the premium Plan will be paid on December 15, 2011 to shareholders of record on November 30, 2011. Management expects the amendment to the Plan to improve the efficiency of raising equity for future projects and the net result will be a material reinvestment of cash dividends into Northland. Eligible holders of Northland's Common Shares and Class A Shares (both referred to as "Shares" herein) who are residents of Canada and otherwise entitled to dividend payments may elect to participate in the Plan and will have the convenient opportunity to reinvest dividends payable on the Shares into additional Common Shares without incurring brokerage commissions, service charges or brokerage fees. Common Shares acquired under the Plan will be newly issued Common Shares purchased from Northland treasury (a "Treasury Purchase") at a discount of 5%, until further notice. The purchase price for Plan shares on the dividend payment date will be the volume-weighted average trading price of the Common Shares on the TSX for the five trading days immediately preceding the dividend payment date less the 5% discount.Shareholders who were enrolled and participating in Northland's prior Plan are automatically enrolled in the new Plan until and unless a termination of participation is received. Non-residents of Canada are not eligible to participate in the Plan. A Plan participant who ceases to be a resident of Canada is required to immediately notify their broker or the Plan Agent and terminate participation in the Plan.More information about the Plan and how to enroll is available on Northland's website at: http://www.northlandpower.ca/InvestorCenter/Distributions/ReinvestmentPlan.aspx ABOUT NORTHLAND Northland Power Inc. (TSX:NPI) owns or has a net economic interest in 1,004 MW of operating generating capacity, and 260 MW of generating capacity in advanced construction. Northland is also actively developing 340 MW of wind, solar and run-of-river hydro projects already awarded PPAs and approximately 2,200 MW of additional power generation opportunities. Northland's assets comprise facilities that produce electricity from "clean" natural gas and "green" renewable sources such as wind, solar and biomass. Electricity generation and capacity is primarily sold under long-term contracts with creditworthy customers. Northland's operating thermal power assets are located in the provinces of Ontario and Saskatchewan Canada, and include the 120 MW Iroquois Falls cogeneration facility, the 110 MW Kingston combined-cycle power facility, the 265 MW Thorold cogeneration facility, the 86 MW Spy Hill peaking facility and an economic interest in two natural-gas- and biomass-fired generation facilities as well as a 19% equity interest in the 230 MW Panda-Brandywine combined-cycle power facility located outside Washington, D.C. Northland's operating renewable power facilities include the 128 MW Jardin d'Éole wind farm and the 100 MW Mont Louis wind farm both located in Quebec, two wind farms totalling 22 MW of installed capacity located in Germany and several rooftop solar power facilities in Ontario. Northland owns the 260 MW North Battleford project, which is currently under construction in Saskatchewan, Canada. Northland's cash flows are diversified over five geographically separate regions and regulatory jurisdictions. Northland's common shares, preferred shares and convertible debentures trade on the Toronto Stock Exchange under the symbols NPI, NPI.PR.A and NPI.DB.A, respectively.FOR FURTHER INFORMATION PLEASE CONTACT: Barb BoklaNorthland Power Inc.Manager, Investor Relations647-288-1438(416) 962-6266 (FAX)ORAdam BeaumontNorthland Power Inc.Director of Finance647-288-1929(416) 962-6266 (FAX)investorrelations@northlandpower.cawww.northlandpower.ca