TORONTO, ONTARIO--(Marketwire - Jan. 21, 2013) -
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Northland Power Inc. ("Northland") (TSX:NPI)(TSX:NPI.PR.A)(TSX:NPI.PR.C)(TSX:NPI.DB.A) today announced the closing of $156.3 million in 4.14% senior secured amortizing Series A bonds issued by its wholly owned subsidiary, Spy Hill Power L.P. ("Spy Hill"). For more details on the transaction, please refer to Northland's press release of January 16, 2013.
Northland Power Inc. owns or has a net economic interest in 1,005 MW of operating generating capacity, and 320 MW of generating capacity in construction. Northland is also actively developing 280 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'Eole wind farm and the 100 MW Mont Louis wind farm both located in Quebec, two wind farms totaling 22 MW of installed capacity located in Germany and several rooftop solar power facilities in Ontario. Northland owns the 260 MW natural gas-fired North Battleford project which is currently under construction in Saskatchewan, Canada, and 60 MW of ground-mounted solar projects under construction in various communities in eastern and central Ontario. Northland's cash flows are diversified over five geographically separate regions and regulatory jurisdictions.
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.