MW Coast Mountain Power Corp

Northland Power Income Fund ("Northland")
(TSX:NPI.UN)(TSX:NPI.DB)(TSX:NPI.DB.A)(TSX:NPP.PR.A) announced today that it has
been awarded a 20-year power purchase agreement to build and operate a 24
megawatt ("MW") wind farm in Frampton, Quebec near the south shore of the St.
Lawrence. 


The contract was awarded by Hydro-Quebec under the province's request for
community and First Nations wind proposals. Northland has partnered with the
municipality of Frampton, which has a 33% interest in the project. Northland
expects the Frampton wind farm to start commercial operations in 2015.


Northland already operates the 127.5 MW Jardin d'Eole wind farm near Matane in
Quebec's Gaspe region and has a 100 MW farm under construction near Mont Louis,
also in the Gaspe. Northland's operating assets total 815 megawatts (MW) of
generating capacity. The company's development pipeline totals 3,300 MW, of
which 683 MW have power contracts, including 446 MW under construction. 


In November, Northland closed $106 million in non-recourse debt financing for
the Mont Louis wind farm project. The company is also building the 260 MW North
Battleford natural-gas-fired combined cycle facility and the 86 MW Spy Hill
natural-gas-fired peaking plant, both in Saskatchewan. All three projects are on
budget and on or ahead of schedule. All energy produced by these projects will
be sold under long term contracts to provincially-backed power authorities.


When all projects under construction are completed in 2013, Northland's net
generating capacity will exceed 1,250 megawatts, an increase of over 50%.


ABOUT NORTHLAND 

Northland is a Canadian income trust that has ownership or economic interests in
9 power projects totalling over 1,050 MW (net 815 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 weighted average duration of 14 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 100 MW Mont Louis wind
farm in construction, 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 to support its strategy of sustainable growth primarily
through internally developed opportunities. 


Northland's shares, two series of convertible debentures, and Northland Power
Preferred Equity Inc.'s preferred shares, which trade on the Toronto Stock
Exchange under the symbols NPI.UN, NPI.DB, NPI.DB.A, and NPP.PR.A respectively,
are qualified investments for RRSPs and DPSPs under the Canadian Income Tax Act.
Northland has in place a distribution re- investment plan that allows
shareholders who are residents of Canada to automatically have their monthly
cash dividends reinvested in additional shares. 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