TORONTO, Nov. 18, 2025 (GLOBE NEWSWIRE) -- Northland Power Inc. ("Northland" or the "Company") (TSX: NPI) announced the signing of a five-year bilateral Power Purchase Agreement ("PPA") with Shell Energy Europe Ltd ("Shell") for approximately one-third of the production from its 332 megawatt Nordsee One offshore wind farm.
Nordsee One is located in the North Sea, in the German Exclusive Economic Zone and was commissioned in December 2017. Northland has an 85% ownership interest in Nordsee One, with the remaining 15% held by RWE Offshore Wind GmbH.
The facility is currently operating under the German Renewable Energy Sources Act regime, which is scheduled to step down in 2027. The PPA, secured through a structured tendering process, starts in June 2027 for a five-year term for the supply of electricity to Shell.
"We are proud to supply Shell with power that advances their energy transition goals," said Christine Healy, President and CEO. "Our Nordsee One offshore wind facility is producing renewable electricity for Europe, and we are leveraging that strength to continue delivering value from our portfolio."
ABOUT NORTHLAND POWER
Northland Power is a Canadian-owned global power producer dedicated to accelerating the global energy transition. Founded in 1987, with almost four decades of experience, Northland has a long history of developing, owning and operating a diversified mix of energy infrastructure assets including offshore and onshore wind, solar, battery energy storage, and natural gas. Northland also supplies energy through a regulated utility. Headquartered in Toronto, Canada, with global offices in seven countries, Northland owns or has an economic interest in 3.5 GW of gross operating generating capacity, 2.2 GW under construction and a significant inventory of early to mid-stage development opportunities encompassing approximately 9 GW of potential capacity. Publicly traded since 1997, Northland's Common Shares, and 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
FORWARD-LOOKING STATEMENTS
This news release contains statements that constitute forward-looking information within the meaning of applicable securities laws ("forward-looking statements") that are provided for the purpose of presenting information about management's current expectations and plans. Readers are cautioned that such statements may not be appropriate for other purposes. Northland's actual results could differ materially from those expressed in, or implied by, these forward-looking statements and, accordingly, the events anticipated by the forward-looking statements may or may not transpire or occur. Forward-looking statements include statements that are predictive in nature, depend upon or refer to future events or conditions, or include words such as "anticipates", "expects," "believes," or negative versions thereof and other similar expressions or future or conditional verbs such as "may," "will," "should," "would" and "could." These statements may include, without limitation, statements regarding Northland's expectations for the step down under the German Renewable Energy Sources Act regime and the anticipated timing and amount of power to be supplied under the PPA, the expected generating capacity of the project, and the future operations of the project, all of which may differ from the expectations stated herein. These statements are based upon certain material factors or assumptions that were applied in developing the forward-looking statements, including the provisions of contracts to which Northland or a subsidiary is a party, as well as other factors, estimates, and assumptions that are believed to be appropriate in the circumstances. Although these forward-looking statements are based upon management's current reasonable expectations and assumptions, they are subject to numerous risks and uncertainties. Some of the factors include, but are not limited to, those described in the "Risks Factors" section of Northland's Management's Discussion and Analysis and Annual Information Form for the year ended December 31, 2024, which can be found at www.sedarplus.ca (http://www.sedarplus.ca/) under Northland's profile and on Northland's website at northlandpower.com (http://northlandpower.com/). Northland has attempted to identify important factors that could cause actual results to materially differ from current expectations, however, there may be other factors that cause actual results to differ materially from such expectations. Northland's actual results could differ materially from those expressed in, or implied by, these forward-looking statements and, accordingly, no assurances can be given that any of the events anticipated by the forward-looking statements will transpire or occur, and Northland cautions you not to place undue reliance upon any such forward-looking statements.
The forward-looking statements contained in this release are, unless otherwise indicated, stated as of the date hereof and are based on assumptions that were considered reasonable as of the date hereof. Other than as specifically required by law, Northland undertakes no obligation to update any forward-looking statements to reflect events or circumstances after such date or to reflect the occurrence of unanticipated events, whether as a result of new information, future events or results, or otherwise.
For further information, please contact:
Adam Beaumont, Senior Vice President, Capital Markets
647-288-1019
investorrelations@northlandpower.com
northlandpower.com
Victor Gravili, Chief of Staff and Global Head of Brand & Communications
647-288-1105
communications@northlandpower.com
