Dec 28 2010
Northland Power Income Fund has been granted a 20 year Power Purchase Agreement by Hydro-Quebec for constructing and operating a 24 MW wind farm in Frampton QC located close to the South Shore of the River St. Lawrence.
The province had called for wind proposals. Northland would be a partner to the Frampton Municipality, which has a stake of 33% in the project. The Frampton wind farm would begin commercial operations by 2015.
The 127.5 MW capacity Jardin d’Eole Wind Energy Farm, situated near Matane in the Gaspe region of Quebec, is already being run and controlled by Northland. It is also constructing a 100 MW plant near Mont Loius in the Gaspe region. The total power generating capacity of Northland comes to 815 MW. Its development pipeline totals up to 3300 MW wherein 683 MW comes from power contracts and 446 MW is still being constructed.
Northland achieved the closure of a $106 million deal in non-recourse debt finance for the Mont Louis project in the month of November. It is also constructing an 86 MW Spy Hill Natural-gas fired peaking unit and a 260 MW natural gas fired combined cycle unit in North Battleford both in Saskatchewan. The energy produced from all these three projects would be sold to provincial utilities under long-term contracts. When all these projects reach completion by 2013, the net generating capacity of Northland would surpass 1250 MW showing an increase of more than 50%.
Northland Power, established in 1987, generates more than 815 MW of electricity and revenue of $ 200 million. It has a core team consisting of 50 personnel in its headquarters based in Toronto and another 150 operators working in their facilities.