Press release from Marketwire
Northland Reaches 1,319 Net Megawatts in Operation as Four Ontario Solar Farms Achieve Commercial Operations
Tuesday, August 06, 2013
Northland Reaches 1,319 Net Megawatts in Operation as Four Ontario Solar Farms Achieve Commercial Operations18:16 EDT Tuesday, August 06, 2013
TORONTO, ONTARIO--(Marketwired - Aug. 6, 2013) - Northland Power Inc. ("Northland") (TSX:NPI)(TSX:NPI.PR.A)(TSX:NPI.PR.C)(TSX:NPI.DB.A) announced today that the Ontario Power Authority (OPA) has now confirmed that four of six projects in the first phase of Northland's 130 MW ground-mounted solar program achieved commercial operations on June 21st, 2013. The facilities, located in eastern Ontario in the municipalities of Crosby, Rideau Lakes, and Belleville, will provide 40 MW of power to the Ontario grid under a 20 year power purchase agreement with the OPA's Feed-In Tariff (FIT) Program.
The projects entered construction in 2012, and were built by Miwel Construction Limited, a wholly-owned subsidiary of Aecon Group Inc., using Ontario-made equipment and Ontario labour. Photovoltaic modules were assembled in Ontario under contract with MEMC Singapore Pte. Ltd. The inverters (power conversion units) were supplied by SMA Canada Inc. and were also manufactured in Ontario. Approximately 2,000 Ontario workers supported the manufacturing, construction and related services associated with the first phase of the Northland projects.
The commissioning of these facilities is particularly noteworthy because they are the first of the corporation's ground-mounted solar farms to enter operations. Today's announcement demonstrates Northland's ongoing commitment to building and maintaining a diverse portfolio of assets across the spectrum of 'green' (renewable) and 'clean' (natural gas) technologies.
"We look forward to helping meet Ontario's long-term energy needs, using clean, renewable solar power," said John Brace, CEO of Northland. "These facilities are in line with Northland's focus on delivering intelligent energy to consumers while helping to create a greener future for our planet. I would like to thank our host communities, and all levels of government in Ontario for their efforts to bring these projects to fruition. I would also like to thank Miwel and the Northland team for all of their hard work."
Northland Power 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 1,319 MW of operating generating capacity, with an additional 90 MW of generating capacity currently in construction, and another 200 MW 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 Power'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.
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