TORONTO, Nov. 16, 2011 /PRNewswire/ -- Northland Power Inc. ("Northland") (TSX:NPI) (TSX:NPI.PR.A) (TSX:NPI.DB.A) announced today that it has signed a Master Module Supply Agreement with MEMC Singapore Pte. Ltd, an affiliate of MEMC Electronic Materials, Inc. ("MEMC") (NYSE: WFR), to purchase solar PV modules that will be manufactured in Newmarket, Ontario for its 130 Megawatt ("MW") Ontario solar portfolio. The modules will be used as part of an approximately $600 million investment by Northland to build ground-mounted solar projects in Ontario, representing one of the largest investments in Ontario's solar energy sector.
In addition to the 400 workers currently employed at the site which produces MEMC solar PV modules, Northland's investment is expected to create another 700 new engineering and construction jobs through the build-out of the projects.
"Northland's significant investment in ground-mounted solar builds on our 25-year history of being an innovative and entrepreneurial energy generator in Ontario," said John Brace, President and CEO of Northland Power. "We are pleased to be partnering with MEMC because of their commitment to high quality standards, and their demonstrated willingness to invest in Ontario for the long-term."
Northland operates over 1,000 MW of diversified generation, and is actively developing renewable and thermal projects in Ontario, including wind, run-of-river, co-generation, as well as a 400 MW pumped storage facility east of Peterborough, Ontario."We are proud to be working with a respected energy industry leader such as Northland Power," said Ahmad Chatila, CEO of MEMC. "As an innovative company with over 50 years of experience, we are pleased to deliver on our commitment to bring renewable energy solutions and sustainable jobs to the people of Ontario." Earlier this year, MEMC began manufacturing solar PV panels in Ontario for SunEdison, its solar energy subsidiary, in order to help the company meet the 60 percent domestic content requirements of the Feed in Tariff program. In July 2011, MEMC announced the expansion of production with its manufacturing partner Flextronics. ABOUT NORTHLAND Northland Power Inc. (TSX:NPI) owns or has a net economic interest in 1,004 MW of operating generating capacity, and 260 MW of generating capacity in advanced construction. Northland is also actively developing 340 MW of wind, solar and run-of-river hydro projects already awarded PPAs and approximately 2,200 MW of additional power generation opportunities. Northland's assets comprise facilities that produce electricity from "clean" natural gas and "green" renewable sources such as wind, solar and biomass. Electricity generation and capacity is primarily sold under long-term contracts with creditworthy customers. Northland's operating thermal power assets are located in the provinces of Ontario and Saskatchewan Canada, and include the 120 MW Iroquois Falls cogeneration facility, the 110 MW Kingston combined-cycle power facility, the 265 MW Thorold cogeneration facility, the 86 MW Spy Hill peaking facility and an economic interest in two natural-gas- and biomass-fired generation facilities as well as a 19% equity interest in the 230 MW Panda-Brandywine combined-cycle power facility located outside Washington, D.C. Northland's operating renewable power facilities include the 128 MW Jardin d'Eole wind farm and the 100 MW Mont Louis wind farm both located in Quebec, two wind farms totalling 22 MW of installed capacity located in Germany and several rooftop solar power facilities in Ontario. Northland owns the 260 MW North Battleford project, which is currently under construction in Saskatchewan, Canada. Northland's cash flows are diversified over five geographically separate regions and regulatory jurisdictions. Northland's common shares, preferred shares and convertible debentures trade on the Toronto Stock Exchange under the symbols NPI, NPI.PR.A and NPI.DB.A, respectively.
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