MW Coast Mountain Power Corp

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Northland Power Income Fund ("Northland Power" or the "Fund'") (TSX:NPI.UN) is
pleased to announce the closing of the previously announced offering of
Cumulative Rate Reset Preferred Shares, Series 1 (the "Series 1 Preferred
Shares") by Northland Power Preferred Equity Inc. (the "Corporation"), an
indirect wholly-owned subsidiary of the Fund. The Series 1 Preferred Shares are
guaranteed by the Fund. The Corporation issued a total of 6 million Series 1
Preferred Shares at $25.00 per share for gross proceeds of $150 million. The
offering was made on a bought deal basis through a syndicate of underwriters led
by CIBC.


The Series 1 Preferred Shares commence trading on the TSX today under the symbol
NPP.PR.A.


The Corporation intends to loan the net proceeds of the offering to NPIF
Holdings L.P., a subsidiary of the Fund, which will use the funds to: (i)
finance the remaining $51 million equity infusion in North Battleford Power
L.P.; (ii) finance the $26 million equity infusion in Mount-Louis Wind L.P.; and
(iii) repay certain non-recourse project debt in the amount of $40 million. The
remainder of the loan will be used by NPIF Holdings L.P. for general corporate
purposes.


ABOUT THE FUND

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 Income Tax
Act (Canada). The Fund has in place a distribution re-investment plan that
allows its 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.


Forward-Looking Statements

Certain statements in this news release, other than statements of historical
fact, are forward-looking statements based on certain assumptions and reflect
the Fund's and its subsidiaries' current expectations. Forward-looking
statements are provided for the purpose of presenting information about
management's current expectations and plans relating to the future and readers
are cautioned that such statements may not be appropriate for other purposes.
These statements may include, without limitation, statements regarding the
operations, business, financial condition, priorities, ongoing objectives,
strategies and outlook of the Fund's and its subsidiaries' for the current
fiscal year and subsequent periods. 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". This
information is based upon certain material factors or assumptions that were
applied in drawing a conclusion or making a forecast or projection as reflected
in the forward-looking statements, including the 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, including those set out in the management's discussion and
analysis section of the Fund's 2009 annual report and the Fund's Annual
Information Form dated March 31, 2010 certain of which are beyond management's
control. The Fund'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, or what benefits, including
the amount of distributions, the Fund and its unitholders will derive therefrom.


The forward-looking statements contained in this news release are made as of the
date hereof for the purpose of providing readers with the Fund's expectations
for the coming year. The forward-looking statements may not be appropriate for
other purposes. Other than as specifically required by law, the Fund undertakes
no obligation to update any forward-looking statements to reflect events or
circumstances after the date on which such statement is made, or to reflect the
occurrence of unanticipated events, whether as a result of new information,
future events or results, or otherwise.

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