- Northland Power
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Northland Power Inc. Type Public Traded as TSX: NPI Industry Electric generation Genre Independent Power Producer Founded 1987 Founder(s) James Temerty Headquarters Toronto, Ontario, Canada Key people John Brace , President & CEO
James Temerty, ChairmanRevenue C$202.57m Net income C$35.26m Total assets C$1,694.53m Total equity C$705.6m Employees 200 Subsidiaries Iriquois Falls Power Corp. Website www.northlandpower.ca Northland Power Inc. (TSX: NPI), is a Canadian corporation that currently owns or has an economic interest in nine power generation assets in Canada—primarily Ontario and Québec—Germany, and the United States. Overall, the firm controls assets that generate about 818 MW (net) of electricity.[1] Approximately 80% of this generation capacity is fueled by natural gas, while the remainder is wind power. In recent years, Northland has begun to develop solar and hydro power projects.
Northland's management holds an ownership stake in the firm of approximately 36%.
Contents
Conversion to Corporation
In 2009, Northland Power Income Fund acquired and merged with Northland Power Inc. This transaction was motivated by the Government of Canada's elimination of preferential tax treatment for income trusts, which has prompted a mass conversion of Canadian income trusts into regular corporations. On June 21, 2010, Northland's unitholders approved management's plan to convert to a corporation effective January 1, 2011.
Growth Strategy
Geographic Expansion
In 2004, Northland acquired a 19% equity interest in Panda Energy Corp., which controls a 230 MW natural gas plant in Brandywine, Maryland.
In April 2006, Northland acquired the 7.2 MW Kavelstorf and the 14.3 MW Eckolstädt wind farms, located near Rostock in Northern Germany. Day-to-day operational management of these projects is contracted to enXco GmbH.
Northland is expanding aggressively in the Canadian province of Saskatchewan with two natural gas plants (260MW and 86MW) currently under construction.
Move to Renewable Power
In August 2004, Northland moved into renewable energy generation by acquiring the Mont Miller wind farm project in the Gaspésie region of Quebec for C$95m. The project became operational in 2005 and sells electricity to Hydro-Québec under a 21-year Power Purchase Agreement (PPA).
In 2005, Northland Power Inc. concluded two PPAs with Hydro-Québec for the Jardin d'Éole (150 MW) and Mont Louis (100 MW).[2]
Power Projects Controlled by Northland
Operational Power Projects
Name Location Fuel Source Capacity (MW) Ref Cochrane Ontario Biomass, Natural Gas 42 [3] Kavelstorf Germany Wind 7.2 [4] Eckolstädt Germany Wind 14.3 [5] Iroquois Falls Ontario Natural Gas 120 [6] Jardin d'Éole Québec Wind 127.5 [7] Kingston Ontario Natural Gas 110 [8] Kirkland Lake Ontario Biomass, Natural Gas 102 [9] Panda-Brandywine Maryland Natural Gas, Fuel Oil 230 [10] Thorold Ontario Natural Gas 236 [11] Projects Under Construction
Name Location Fuel Source Capacity (MW) Ref Mont Louis Québec Wind 100 [12] North Battleford Saskatchewan Natural Gas 260 [13] Spy Hill Saskatchewan Natural Gas 86 [14] Projects in Advanced Development Stage
Name Location Fuel Source Capacity (MW) Ref Belleville North Ontario Solar 10 [15] Belleville South Ontario Solar 10 [16] Burk's Falls East Ontario Solar 10 [17] Burk's Falls West Ontario Solar 10 [18] Crosby Ontario Solar 10 [19] Glendale Ontario Solar 10 [20] Jardin d'Éole Expansion Québec Wind 22.5 [21] McCann Ontario Solar 10 [22] McLean's Mountain Ontario Wind 72 [23] North Burgess Ontario Solar 10 [24] Rideau Lakes Ontario Solar 10 [25] References
- ^ Corporate Story
- ^ Press Release 20 September 2007
- ^ Northland Power Website, http://www.northlandpower.ca/WhatWeDo/PrerevenueProjects/Project.aspx?projectID=18#m=2, retrieved 2010-11-30
- ^ Northland Power Website, http://www.northlandpower.ca/WhatWeDo/PrerevenueProjects/Project.aspx?projectID=23#m=2, retrieved 2010-11-30
- ^ Northland Power Website, http://www.northlandpower.ca/WhatWeDo/PrerevenueProjects/Project.aspx?projectID=23#m=2, retrieved 2010-11-30
- ^ Northland Power Website, http://www.northlandpower.ca/WhatWeDo/PrerevenueProjects/Project.aspx?projectID=16#m=2, retrieved 2010-11-30
- ^ Northland Power Website, http://www.northlandpower.ca/WhatWeDo/PrerevenueProjects/Project.aspx?projectID=22#m=2, retrieved 2010-11-30
- ^ Northland Power Website, http://www.northlandpower.ca/WhatWeDo/PrerevenueProjects/Project.aspx?projectID=17#m=2, retrieved 2010-11-30
- ^ Northland Power Website, http://www.northlandpower.ca/WhatWeDo/PrerevenueProjects/Project.aspx?projectID=24#m=2, retrieved 2010-11-30
- ^ Northland Power Website, http://www.northlandpower.ca/WhatWeDo/PrerevenueProjects/Project.aspx?projectID=20#m=2, retrieved 2010-11-30
- ^ Northland Power Website, http://www.northlandpower.ca/WhatWeDo/PrerevenueProjects/Project.aspx?projectID=19#m=2, retrieved 2010-11-30
- ^ Northland Power Website, http://www.northlandpower.ca/WhatWeDo/PrerevenueProjects/Project.aspx?projectID=15#m=2, retrieved 2010-11-30
- ^ Northland Power Website, http://www.northlandpower.ca/WhatWeDo/PrerevenueProjects/Project.aspx?projectID=28#m=2, retrieved 2010-11-30
- ^ Northland Power Website, http://www.northlandpower.ca/WhatWeDo/PrerevenueProjects/Project.aspx?projectID=27#m=2, retrieved 2010-11-30
- ^ Northland Power Website, http://www.northlandpower.ca/WhatWeDo/PrerevenueProjects/Project.aspx?projectID=39#m=2, retrieved 2010-11-30
- ^ Northland Power Website, http://www.northlandpower.ca/WhatWeDo/PrerevenueProjects/Project.aspx?projectID=40#m=2, retrieved 2010-11-30
- ^ Northland Power Website, http://www.northlandpower.ca/WhatWeDo/PrerevenueProjects/Project.aspx?projectID=41#m=2, retrieved 2010-11-30
- ^ Northland Power Website, http://www.northlandpower.ca/WhatWeDo/PrerevenueProjects/Project.aspx?projectID=42#m=2, retrieved 2010-11-30
- ^ Northland Power Website, http://www.northlandpower.ca/WhatWeDo/PrerevenueProjects/Project.aspx?projectID=43#m=2, retrieved 2010-11-30
- ^ Northland Power Website, http://www.northlandpower.ca/WhatWeDo/PrerevenueProjects/Project.aspx?projectID=44#m=2, retrieved 2010-11-30
- ^ Northland Power Website, http://www.northlandpower.ca/WhatWeDo/PrerevenueProjects/Project.aspx?projectID=35#m=2, retrieved 2010-11-30
- ^ Northland Power Website, http://www.northlandpower.ca/WhatWeDo/PrerevenueProjects/Project.aspx?projectID=38#m=2, retrieved 2010-11-30
- ^ Northland Power Website, http://www.northlandpower.ca/WhatWeDo/PrerevenueProjects/Project.aspx?projectID=14#m=2, retrieved 2010-11-30
- ^ Northland Power Website, http://www.northlandpower.ca/WhatWeDo/PrerevenueProjects/Project.aspx?projectID=45#m=2, retrieved 2010-11-30
- ^ Northland Power Website, http://www.northlandpower.ca/WhatWeDo/PrerevenueProjects/Project.aspx?projectID=46#m=2, retrieved 2010-11-30
External links
Categories:- Companies listed on the Toronto Stock Exchange
- Power companies of Canada
- Companies based in Toronto
- S&P/TSX Composite Index
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