TORONTO, April 29, 2024 (GLOBE NEWSWIRE) -- Northland Power Inc. ("Northland" or the "Company") (TSX: NPI) today released its 2023 Sustainability Report, 'Powering Possibility', that highlights the Company's environmental, social and governance (ESG) achievements from the past year.
"Despite industry headwinds, our teams continued to drive performance and delivered important milestones for Northland, the industry and key markets globally," said President and CEO, Mike Crawley. "Our achievements lay the groundwork to ensure we continue to support global energy transition efforts in the long-term and further highlights the importance of ensuring our ESG priorities are aligned and executed responsibly across our business."
Last year, Northland entered construction on three major projects in our portfolio, including two offshore wind projects, Hai Long (1.0 GW) in Taiwan and Baltic Power (1.1 GW) in Poland, and Northland's first battery storage project, Oneida (250 MW), in Canada. With their size and scale, these projects will make a significant impact on decarbonization efforts in their respective regions. Hai Long and Baltic Power will have the capacity to provide more than 2.5 million households with clean energy and avoid ~5 million tonnes of CO2 per year. Oneida, with its capacity to save and store energy, will enhance grid reliability and affordability in Southern Ontario and reduce greenhouse gas emissions by 1.2 million tonnes over the project's lifespan.
"Northland's ESG priorities are synonymous with our company's purpose to build a better world for generations to come," said John Brace, Executive Chair. "With more than 2.4 GW of projects in construction, we're building the infrastructure, policies and protocols that ensure we can deliver against our commitment to minimize environmental impact, uphold social responsibility and drive economic resilience for the business."
Northland's priorities and commitments reflect global best practice standards and frameworks including the GHG Protocol and the Electric Utilities & Power Generators standards from the Sustainability Accounting Standards Board (SASB), the Taskforce for Climate-Related Financial Disclosures (TCFD) and the United Nations Global Compact (UNGC).
A full copy of the 2023 Sustainability Report is available on Northland's website at https://www.northlandpower.com/en/resources/Sustainability%20Report/Northland-Power-2023-Sustainability-Report-web.pdf (https://www.northlandpower.com/en/resources/Sustainability%20Report/Northland-Power-2023-Sustainability-Report-web.pdf)
2023 Highlights:
- Achieved commercial operations on 300 MW of new generating capacity including the Bluestone (112 MW) and Ball Hill (108 MW) onshore wind facilities in the United States and the La Lucha (130 MW) solar facility in Mexico;
- Avoided 8.7 million tCO2e total emissions 2020 - 2023;
- Announced the use of green steel made from recycled materials and produced by wind energy on 52 of the planned 76 turbines for Baltic Power. This new technology will reduce the emissions of each tower by 25 per cent versus a conventional tower and the total emissions of each turbine by 10 per cent over the life cycle of the project;
- Executed on $12.8 billion in new green financings at corporate and project levels;
- Contributed $4.9 million CAD in community investment globally;
- Invested in the Health, Safety and Well-being of Northland employees through newly established training programs; and
- Continued to advance ongoing biodiversity efforts and programs established across our sites.
ABOUT NORTHLAND POWER
Northland Power is a global power producer dedicated to helping the clean energy transition by producing electricity from clean renewable resources. Founded in 1987, Northland has a long history of developing, building, owning and operating clean and green power infrastructure assets and is a global leader in offshore wind. In addition, Northland owns and manages a diversified generation mix including onshore renewables, efficient natural gas energy, as well as supplying energy through a regulated utility.
Headquartered in Toronto, Canada, with global offices in eight countries, Northland owns or has an economic interest in approximately 3.4 GW (net 2.9 GW) of operating capacity. The Company also has a significant inventory of projects in construction and in various stages of development encompassing approximately 12 GW of potential capacity.
Publicly traded since 1997, Northland's common shares, Series 1 and Series 2 preferred shares trade on the Toronto Stock Exchange under the symbols NPI, NPI.PR.A and NPI.PR.B, respectively.
For further information, please contact:
Dario Neimarlija, Vice President, FP&A and Investor Relations
647-288-1019
investorrelations@northlandpower.com
Victor Gravili, Head of Global Brand & Integrated Communications
416-970-0200
communications@northlandpower.com
