In 1987, Northland was a pioneer in the independent power sector in Canada. Today, we celebrate the affirmation of Northland’s long-term vision and strategy, as demonstrated by the focus on decarbonisation in countries around the globe. Northland currently operates 26 clean and green facilities across Canada and Europe, and the company continues to grow.

Our Future

In 2017, when our current construction portfolio is complete, Northland will generate enough electricity to power over 2.6 million homes. Our commitment to sustainability will continue to drive every decision we make, ensuring we develop, finance, build and operate facilities that produce strong returns while respecting our employees, communities and the environment. Northland is well-positioned to continue its growth trajectory throughout 2016 and well into the future.

Grand Bend COD 2016
Onshore wind | 50.0 MW*

Gemini COD 2017
Offshore wind | 360.0 MW*

Nordsee COD 2017
Offshore wind | 282 MW*

Our Past & Present

Founded in 1987 to develop one of Canada’s early independent power projects, Northland built a team with technical and business expertise – and a strong commitment to sustainability. Since listing on the Toronto Stock Exchange in 1997, Northland has consistently paid dividends achieved through strategic, organic growth – by developing, owning and operating high-quality clean and green energy projects with long-term power contracts and creditworthy counterparties.

Northland has built a team of more than 300 talented and dedicated team members, has a net economic interest in 1,338 MW of operating generating capacity and a market capitalization of more than $3 billion.

Spy Hill COD 2011
Cogeneration | 86.0 MW

Mont Louis COD 2011
Onshore wind | 100.5 MW

North Battleford COD 2013
Combined cycle | 260.0 MW

Ontario Solar COD 2013–2015
Solar | 115.0 MW*

McLean’s COD 2014
Onshore wind | 30.0 MW*

The Evolution of Northland since the 2010 Merger

Net generating capacity*

by technology

Nordsee 282.0 MW F
Gemini 360.0 MW F
Grand Bend 50.0 MW F
McLean's 30.0 MW
Mont Louis 100.5 MW
Jardin 127.5 MW
Germany 21.5 MW
Ontario Solar 115.0 MW
North Battleford 260.0 MW
Spy Hill 86.0 MW
Thorold 265.0 MW
Kingston 110.0 MW
Iroquois Falls 120.0 MW
Kirkland 101.6 MW

* Northland's net economic interest

As we continue to evolve and pursue new opportunities, we will remain true to our core values.

Year-Over-Year Growth Since 2011, Northland’s adjusted EBITDA has increased by 167% with steady growth each year. Our diverse power generation mix provides versatility and enables us to seize new opportunities, while each project’s long-term revenue contract provides stability.

Adjusted EBITDA

by per cent breakdown





*Represents Northland’s
total consolidated
adjusted EBITDA

Enterprise Value/Market Cap/Share Price
As Northland grows its international presence, the Company’s enterprise value has increased significantly – to approximately $8 billion. In 2015, Northland common shares delivered a total shareholder return of 30%; this result can be partially attributed to the value that investors place on offshore wind. More importantly, it reflects investors’ confidence in Northland’s ability to successfully deliver its construction projects into commercial operations.

In billions of dollars except per-share price

Key Performance Metrics
One of Northland’s key focuses is maximizing the results from our existing operating facilities in order to maintain stable cash flow over the course of their respective asset lives. Management’s perspective is that Adjusted EBITDA, free cash flow and free cash flow per share are key measures for determining Northland’s financial performance. Since 2011, we have delivered robust results on each metric; management will continue to focus on optimizing results as our portfolio of operating assets expands.

In millions of dollars except free cash flow per share

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