2016 Highlights

Northland Power is an independent power producer.
We develop, finance, build, own and operate facilities in Canada and internationally that produce clean and green energy using natural gas, biomass, wind and solar technology. Our goal is to create long-term shareholder value by investing in sustainable power projects that generate stable cash flows.

2016

Northland Power Inc.

20th Annual Report

2016 Highlights

In 2016, Northland once again delivered on its commitments to stakeholders and shareholders alike.

Continued on-time, on-budget advancement of our ~$6 billion construction portfolio

  • Gemini

    600 MW offshore wind farm – nearly complete, on schedule and within budget

    • February – first power to shore
    • August – turbine installation completed
    • Today – all turbines generating power and pre-completion revenue;
      on track for full commercial operations in mid-2017
  • Nordsee One

    332 MW offshore wind farm – progressing on schedule and within budget

    • April – installation of foundations (monopiles and transition pieces)
      completed ahead of schedule
    • July – offshore substation installed
    • Wind turbines to be installed starting in early 2017
  • Grand Bend

    100 MW wind farm – completed ahead of schedule and under budget

    • April – achieved commercial operations

Strong Operating and Financial Performance

    • Operating income of $508.6 million, an 86% increase over 2015
    • Adjusted EBITDA of $626.9 million, a 56% increase over 2015
    • Free cash flow of $242.3 million, a $60.2 million increase over 2015 (normalized basis)
    • Total shareholder returns of approximately 31% since 2015
    • Dividends of $1.08 per share
 

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