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Nordsee One Offshore Wind Project Achieves First Power
TORONTO, ON–(March 31, 2017) – Northland Power Inc. (“Northland”) (TSX: NPI) (TSX: NPI.PR.A) (TSX: NPI.PR.B) (TSX: NPI.PR.C) (TSX: NPI.DB.B) (TSX: NPI.DB.C) confirmed that the first wind turbine installed on the 332 MW offshore wind farm has successfully started to generate power and is feeding green electricity into the grid.
Installation of the project’s 54 turbines began earlier this month and seven turbines have been installed to date. Turbine installation will continue in parallel with the progressive commissioning of the wind turbines.
The project reached financial close in March, 2015. All 54 foundation monopiles and transition pieces, as well as the offshore substation and infield cables, were successfully installed in 2016. Northland expects the installation and commissioning of all 54 Nordsee One turbines to be completed by the end of 2017.
Once operational, the 332 MW wind farm is expected to produce an annual output of more than 1,300 gigawatt-hours of electrical energy, enough to supply the equivalent of approximately 400,000 German households. Nordsee One is owned by Northland (85%) and Innogy SE (15%).
John Brace, CEO of Northland noted: “We’re pleased to report that this important milestone has been achieved on time. Our capable and diligent project team will continue to work closely with our contractors to enable a successful installation and connection process from start to finish.”
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 1,394 MW of operating generating capacity and 932 MW (642 MW net to Northland) of generating capacity under construction, including a 60% equity stake in Gemini, a 600 MW offshore wind project, and an 85% equity stake in Nordsee One, a 332 MW offshore wind project, both located in the North Sea. The Company also recently announced the acquisition of a 100% equity stake in a 252 MW offshore wind project DeBu currently in advanced development in the North Sea.
Northland’s cash flows are diversified over four geographically separate regions and regulatory jurisdictions in Canada and Europe.
Northland’s common shares, Series 1, Series 2 and Series 3 preferred shares and Series B and Series C convertible debentures trade on the Toronto Stock Exchange under the symbols NPI, NPI.PR.A, NPI.PR.B, NPI.PR.C, NPI.DB.B, and NPI.DB.C, respectively.
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