Business & Finance
Business and Finance
Business and Finance
Wed, October 19, 2011 
October 19, 2011 07:29 ET
Northland Tops 1,000 Net Megawatts in Operation: Spy Hill Facility Achieves Commercial Operations
TORONTO, ONTARIO--(Marketwire - Oct. 19, 2011) - Northland Power Inc. ("Northland") (TSX:NPI)(TSX:NPI.PR.A)(TSX:NPI.DB.A) announced today that its wholly-owned 86 megawatt (MW) Spy Hill peaking facility achieved commercial operations at 00:00 (CST) on October 19th, 2011 after completing all required tests. The facility, located about 200 km east of Regina near Esterhazy, Saskatchewan, will provide peaking power to the Saskatchewan power grid under its 25-year Power Purchase Agreement (PPA) with Saskatchewan Power Corporation ("SaskPower"). The PPA was awarded to Northland following a competitive bid process in 2009.
The facility was built through a joint-venture between Aecon Group Inc. and Black & Veatch Corporation. Two General Electric LM 6000 natural-gas-fired simple-cycle turbines will produce the electricity. The project, which is situated on land leased from SaskPower, commenced construction in June 2010 and was completed within budget and ahead of schedule.
David Dougall, Northland's VP of Operations noted that, "the addition of the Spy Hill facility to our fleet of operating assets is a significant milestone for Northland, as our net capacity now surpasses 1,000 MW."
Northland continues to expand its operations and now has cash flows diversified over five geographically separate regions and regulatory jurisdictions.
"Saskatchewan's energy needs are growing rapidly, and we are excited by the opportunity to work with such a respected partner as SaskPower in responding to those needs," said John Brace, CEO of Northland. "Strong support from the local community, SaskPower and all levels of government in Saskatchewan helped make this project a success. Congratulations are also due to Aecon, Black & Veatch and the Northland team for overcoming adverse weather conditions this summer to complete the project ahead of schedule."
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 awarded PPAs under the Ontario Power Authority's FIT program 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, 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 totaling 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.
