Northland Power Inc. ("Northland") is an international producer of wind, solar, and thermal power in business for over 25 years, was named Business of the Year by the Netherlands-Canadian Chamber of Commerce at its annual luncheon in the Hague on November 12, 2014.
The award recognizes companies who have advanced the relationship between Canada and the Netherlands. Northland was selected from a shortlist of three companies based on its role as majority equity shareholder in Gemini, a 600MW offshore wind project located approximately 85 kilometres off the coast of the Netherlands in the North Sea.
“It is an honour to receive this award,” said John Brace, CEO of Northland Power. “Our involvement in Gemini illustrates the mutual benefits that can result from collaboration between our two countries. We look forward to having a significant and positive long-term impact on the Netherlands economy while creating jobs and helping the Netherlands achieve its renewable energy goals. I would like to thank the governments of both Canada and the Netherlands for their support, which has been fundamental to the project’s success.
Said James Lambert, Canada’s Ambassador to the Netherlands: “As Ambassador, I am delighted with the choice of Northland Power for this award. The company demonstrates the power of partnership by enabling Canada’s largest-ever investment in the Netherlands, which will help to meet Dutch electricity needs with green energy, CO2 reductions and Canadian know-how.”
Northland is an independent power producer founded in 1987, and publicly traded since 1997. Northland develops, builds, owns and operates facilities that produce 'clean' (natural gas) and 'green' (wind, solar, and hydro) energy, providing sustainable long-term value to shareholders, stakeholders, and host communities.
The company owns or has a net economic interest in 1,345 MW of operating generating capacity; 640 MW (400 MW net to Northland) of generating capacity under construction, including a 60% equity stake in Gemini, a 600 MW (360 MW net to Northland) offshore wind project in the North Sea near the Netherlands; and 456 MW (348 MW net to Northland) of projects with awarded power contracts under advanced development, including an 85% equity stake in Nordsee One, a 332 MW (282 MW net to Northland) offshore wind project in the North Sea near Germany. Northland's cash flows are diversified over four geographically separate regions and regulatory jurisdictions in Canada and Europe. Northland's common shares, Series 1 and Series 3 preferred shares and convertible debentures trade on the Toronto Stock Exchange under the symbols NPI, NPI.PR.A, NPI.PR.C, NPI.DB.A and NPI.DB.B, respectively.