TORONTO, ONTARIO -- (Marketwire) -- 10/22/12 -- Northland Power Inc. ("Northland") (TSX: NPI)(TSX: NPI.PR.A)(TSX: NPI.PR.C)(TSX: NPI.DB.A) announced today that it has acquired rights from Burns & McDonnell for the development and construction of two gas-fired peaking plants, one to be located in Boone County, Ill., and the other near the Village of Annawan, Ill. Each plant would have a total power generating capacity of up to 100 megawatts (MW).
Northland and Burns & McDonnell are currently working jointly to secure off-taker agreements with various interested parties for purchased power.
"Northland is pleased to announce our acquisition of the rights to these two projects," commented John Brace, President & CEO, Northland Power. "We look forward to expanding our portfolio of clean, reliable gas-fired energy, while meeting the local communities' growing energy needs."
Peaking power plants support a dependable, integrated energy mix. Intended to operate on an as-needed basis during high demand conditions, the plants have many benefits including supporting system reliability by being able to respond quickly to changing system conditions in addition to supporting the growing local system demands and back up intermittent renewable energy resources such as wind and solar. Once operational, the plants would produce minimal environmental impacts while offering numerous benefits to their respective communities.
ABOUT NORTHLAND
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 North Battleford project, which is currently under construction in Saskatchewan, Canada, and is currently constructing 60 MW of ground-mounted solar projects located 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.
About Burns & McDonnell
Founded in 1898, Burns & McDonnell is a 100 percent employee-owned, full-service engineering, architecture, construction, environmental and consulting services firm. Burns & McDonnell is currently the 23rd largest AEC firm in the Engineering News-Record Top 500 ranking. With the multi-disciplinary expertise of more than 3,600 professionals in more than 30 regional, national and international offices, Burns & McDonnell plans, designs, permits, constructs and manages facilities worldwide with one mission in mind - to make our clients successful. For more information about Burns & McDonnell, visit www.burnsmcd.com.
Contacts:
Northland Power Inc.
Barb Bokla
Manager, Investor Relations
647-288-1438 (investor relation inquiries)
(416) 962-6266 (FAX)
Northland Power Inc.
JP Bradette
Director, Business Development
647-288-1231 (development inquiries)
(416) 962-6266 (FAX)
investorrelations@northlandpower.ca
www.northlandpower.ca
Burns & McDonnell
Thomas Graves
Project Manager
816-822-3027 (FAX)
tgraves@burnsmcd.com
www.burnsmcd.com