Topic: Energy Stocks

Pat: I am interested in your views on Northland Power. Regards.

Article Excerpt

Northland Power Inc., $21.92, symbol NPI on Toronto (Shares outstanding: 170.0 million; Market cap: $3.7 billion; www.northlandpower.ca), develops, builds, owns and operates natural gas-fired power plants, wind farms, solar projects and hydroelectric facilities. The company converted to a corporation from an income trust on January 1, 2011. Northland owns or has stakes in 1,338 megawatts of generating capacity, with an additional 692 megawatts under construction. One of these developments is Project Gemini, in which the company holds a 60% stake (purchased in May 2014). The operation is a $4.1 billion wind farm in the North Sea, off the coast of the Netherlands. It should generate 600 megawatts (360 megawatts net to Northland) when it starts up in 2017. Gemini has a 15-year deal to sell its power to the Dutch government. That cuts the investment’s risk. As well, Northland owns 85% of the Nordsee wind project, also in the North Sea—40 kilometres off the German coast. RWE AG, a leading utility company, owns…