NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE
UNITED STATES OR ITS POSSESSIONS. ANY FAILURE TO COMPLY WITH THIS RESTRICTION
MAY CONSTITUTE A VIOLATION OF U.S. SECURITIES LAW.


Northland Power Inc. ("Northland") (TSX:NPI) (TSX:NPI.PR.A) (TSX:NPI.PR.C)
(TSX:NPI.DB.A) (TSX:NPI.DB.B) is pleased to announce the closing of the
previously announced bought deal offering (the "Offering") of 9,375,000 of
common shares (the "Common Shares") at a price of $16.00 per Common Share,
representing $150,000,000 of gross proceeds, and $75,000,000 aggregate principal
amount of 5.00% extendible convertible unsecured subordinated debentures, series
B (the "Debentures"). The underwriters have exercised their over-allotment
option in respect of the Offering of Common Shares bringing the total number of
Common Shares issued to 9,843,750 shares and the total proceeds to $157,500,000.


Northland is also pleased to announce the concurrent closing, on a private
placement basis, of the previously announced issuance of 3,125,000 Common Shares
(the "Private Placement") to a subsidiary of Northland Power Holdings Inc., a
company controlled by Mr. James C. Temerty, at the same price per Common Share
offered to the public pursuant to the Offering.


The Debentures commence trading on the TSX today under the symbol NPI.DB.B. The
first interest payment on the Debentures, accruing from March 5, 2014 to but
excluding June 30, 2014, will be in the amount of $16.02 per $1,000 Debenture.


Northland intends to use the net proceeds of the Offering and the proceeds of
the Private Placement to fund a portion of Northland's equity commitment and
subordinated loan to project Gemini and for general corporate purposes. 


This news release does not constitute an offer to sell or the solicitation of
any offer to buy, nor will there be any sale of these securities, in any
province, state or jurisdiction in which such offer, solicitation or sale would
be unlawful prior to the registration or qualification under the securities laws
of any such province, state or jurisdiction.


ABOUT NORTHLAND

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 1,349 MW of operating
generating capacity, with an additional 110 MW (80 MW net to Northland) of
generating capacity currently in construction, and another 150 MW (79 MW net to
Northland) of wind, solar and run-of-river hydro projects with awarded power
contracts. In addition, Northland has acquired the rights to a majority equity
stake in Gemini. Northland's cash flows are diversified over five geographically
separate regions and regulatory jurisdictions in Canada, Europe and the United
States.


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.


FORWARD-LOOKING STATEMENTS

This release contains certain forward-looking statements which are provided for
the purpose of presenting information about management's current expectations
and plans. Readers are cautioned that such statements may not be appropriate for
other purposes. Forward-looking statements include statements that are
predictive in nature, depend upon or refer to future events or conditions, or
include words such as "expects," "anticipates," "plans," "believes,"
"estimates," "intends," "targets," "projects," "forecasts" or negative versions
thereof and other similar expressions, or future or conditional verbs such as
"may," "will," "should," "would" and "could." These statements may include,
without limitation, statements regarding the use of proceeds of the Offering and
Private Placement, future adjusted EBITDA, free cash flows, dividend payment and
dividend payout ratios, the construction, completion, attainment of commercial
operations, cost and output of development projects, plans for raising capital,
and the operations, business, financial condition, priorities, ongoing
objectives, strategies and outlook of Northland and its subsidiaries. These
statements are based upon certain material factors or assumptions that were
applied in developing the forward-looking statements, including the design
specifications of development projects, the provisions of contracts to which
Northland or a subsidiary is a party, management's current plans, its perception
of historical trends, current conditions and expected future developments, as
well as other factors that are believed to be appropriate in the circumstances.
Although these forward-looking statements are based upon management's current
reasonable expectations and assumptions, they are subject to numerous risks and
uncertainties. Some of the factors that could cause results or events to differ
from current expectations include, but are not limited to, construction risks,
counterparty risks, operational risks, foreign exchange rates, regulatory risks,
maritime risks for construction and operation, and the variability of revenues
from generating facilities powered by intermittent renewable resources and the
other factors described in the "Risks and Uncertainties" section of Northland's
2013 Annual Report and Annual Information Form, both of which can be found at
www.sedar.com under Northland's profile and on Northland's website
www.northlandpower.ca. Northland's actual results could differ materially from
those expressed in, or implied by, these forward-looking statements and,
accordingly, no assurances can be given that any of the events anticipated by
the forward-looking statements will transpire or occur.


The forward-looking statements contained in this release are based on
assumptions that were considered reasonable on March 5, 2014. Other than as
specifically required by law, Northland undertakes no obligation to update any
forward-looking statements to reflect events or circumstances after such date or
to reflect the occurrence of unanticipated events, whether as a result of new
information, future events or results, or otherwise.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Northland Power Inc.
Barb Bokla
Manager, Investor Relations
647-288-1438


Northland Power Inc.
Adam Beaumont
Director of Finance
647-288-1929
(416) 962-6266 (FAX)
investorrelations@northlandpower.ca
www.northlandpower.ca
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