From GlobeNewswire: 2024-05-15 21:43:28

Northland Power Inc. announced positive financial results for the first quarter of 2024, with higher sales, gross profit, net income, Adjusted EBITDA, and Adjusted Free Cash Flow compared to the same quarter in 2023. Construction progress continues on offshore wind projects in Taiwan and Poland, as well as an energy storage project in Canada. Electricity production at offshore wind facilities increased, with adjusted EBITDA also seeing a significant rise. Onshore renewable facilities and natural gas facilities also experienced higher electricity production. G&A costs, development costs, and net finance costs increased, while fair value loss on derivative contracts and foreign exchange gain were reported. Adjusted EBITDA for the quarter was positive.



Read more at GlobeNewswire: Northland Power Reports First Quarter 2024 Results