Northland Power Gears Up for Major Battery Storage in Alberta
Northland Power Advances Innovative Energy Storage Solutions
Announcement Highlights:
- Northland has successfully closed its second round of battery storage financing, showcasing their expanding expertise in this crucial energy sector.
- The upcoming Jurassic Battery Energy Storage System (BESS) project is on track to start construction soon.
- Once operational, Jurassic BESS will stand as Alberta’s largest battery energy storage system.
Based in Toronto, Northland Power Inc. (“Northland” or the “Company”) (TSX: NPI) has made a significant stride in the renewable energy sector with the financial closure of the Jurassic Battery Energy Storage System project. This project, located in southern Alberta, is all set to begin construction.
The Jurassic BESS will have a capacity of 80 MW, equating to 160 MWh with a dual-hour storage capability, fitting seamlessly into Northland's ambitious growth strategy in Alberta. The project has secured a fixed price construction contract over a 15-year term, ensuring stability in energy supply. Commercial operation is projected to commence in late 2026.
Christine Healy, President and CEO of Northland, expressed enthusiasm about this milestone, stating, “The progress we made with our Oneida Battery Storage Project has paved the way for this new venture. It is exciting to see our commitment to renewable energy solutions take further shape through Jurassic BESS.” Healy emphasized that the project will enhance Alberta's energy grid stability and reliability while diversifying Northland's asset portfolio.
With an estimated cost of $120 million, the construction of Jurassic BESS will be financed through project-level funding, existing cash resources, and liquidity. Upon reaching full operation, it is anticipated that the BESS will yield around $15 million in annual Adjusted EBITDA.
About Northland Power
Founded in 1987, Northland Power is a leading global power producer committed to driving the transition to sustainable energy. They boast nearly 40 years of experience and have a diverse portfolio that includes offshore and onshore wind farms, solar projects, battery energy storage systems, and natural gas operations. Additionally, Northland operates a regulated utility to supply energy.
The company is headquartered in Toronto, Canada, with operational offices in seven countries, overseeing 3.2 GW of operational generating capacity, with an additional 2.4 GW under construction. They are also actively working on significant development opportunities that could add around 10 GW in capacity.
Northland Power has publicly traded shares since 1997, with Common Shares, Series 1 and Series 2 Preferred Shares available under the TSX symbols NPI, NPI.PR.A, and NPI.PR.B, respectively.
Contact Information
For any inquiries, please reach out to:
Dario Neimarlija, Vice President, FP&A and Investor Relations
647-288-1019
investorrelations@northlandpower.com
Victor Gravili, Head of Global Brand & Integrated Communications
647-288-1105
communications@northlandpower.com
Frequently Asked Questions
What is the Jurassic Battery Energy Storage System project?
The Jurassic BESS will be Alberta’s largest battery energy storage system, set to enhance energy grid reliability and stability.
What capacity will the Jurassic BESS have?
The system will have a capacity of 80 MW and will provide 160 MWh of energy storage with a dual-hour capability.
When is the project expected to start operations?
The project is anticipated to begin commercial operations in late 2026.
How much will the Jurassic BESS project cost?
The total estimated cost for the project is approximately $120 million.
Who can I contact for more information about Northland Power?
You can contact Dario Neimarlija at 647-288-1019 or via email at investorrelations@northlandpower.com.
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