MW Coast Mountain Power Corp

Northland Power Income Fund ("Northland") (TSX:NPI.UN)(TSX:NPI.DB)(TSX:NPI.DB.A)
announced today that it has started site clearing for a wind farm to be located
in the Gaspesie region of Quebec near Mont Louis, about 150 km east of Matane.
The 100.5 MW Mont Louis project was awarded a contract in 2004 to supply power
to Hydro-Quebec under a 20 year Power Purchase Agreement. GE Canada is expected
to supply 67 GE 1.5sle wind turbines for the project.


The total cost of the project is expected to be $176 million, or $146 million
net after reimbursement of substation and interconnection costs by Hydro-Quebec.
Northland anticipates raising approximately $120 million of debt financing for
the project, with financial close expected in September 2010.


ABOUT NORTHLAND

Northland is a Canadian income trust that has ownership or economic interests in
10 power projects totaling over 1,100 megawatts ("MW") (net 872 MW). Northland's
assets comprise natural-gas-fired plants which efficiently and cleanly produce
electricity and steam as well as facilities generating renewable energy from
wind and biomass. Sales are made almost entirely under long-term contracts with
a current average duration of 13 years. Northland's plants are located in
Canada, the United States and Germany. In addition, Northland has the 86 MW Spy
Hill project, 260 MW North Battleford project and 216 MW of wind, solar and
run-of-river hydro projects awarded under the Ontario Power Authority's
Feed-in-Tariff program in advanced stages of development. Northland also has a
diverse development portfolio of high-quality 'Clean and Green' energy projects,
including wind, solar, natural gas, and hydro assets that supports its strategy
of sustainable growth primarily through internally developed opportunities. The
Fund's trust units and two series of convertible debentures, which trade on the
Toronto Stock Exchange under the symbols NPI.UN, NPI.DB and NPI.DB.A
respectively, are qualified investments for RRSPs and DPSPs under the Canadian
Income Tax Act. The Fund has in place a distribution re-investment plan that
allows Unitholders who are residents of Canada to automatically have their
monthly cash distributions reinvested in additional units. Participants do not
pay any costs associated with the plan, including brokerage commissions. For
further information or to join the plan, contact your financial advisor or
broker.

Coast Mountain Power Corp (TSXV:MW)
Historical Stock Chart
Von Mai 2024 bis Jun 2024

Coast Mountain Power Corp (TSXV:MW)
Historical Stock Chart
Von Jun 2023 bis Jun 2024