From GlobeNewswire: 2025-02-26 21:48:00

Northland Power Inc. reported strong financial results for the three months and year ended December 31, 2024. Revenue from energy sales increased to $572 million in the fourth quarter and $2,346 million for the full year. Net income also improved to $150 million in Q4 and $371 million for the year.

The company made progress on construction projects, including the Thorold Natural Gas Facility Upgrade and the Hai Long, Baltic Power, and Oneida projects. The Baltic Power project is on track for full commercial operations in 2026, while the Oneida project is expected to achieve full commercial operations in the first half of 2025.

Northland announced a change in the Dividend Reinvestment Plan, eliminating the discount to 0%. The company refinanced EBSA’s credit facility and reported improvements in financial results, with Adjusted EBITDA increasing to $312 million in Q4 2024.

For 2025, Northland expects Adjusted EBITDA to be in the range of $1.3 to $1.4 billion, with Adjusted Free Cash Flow and Free Cash Flow expected to be $1.30 to $1.50 and $1.10 to $1.30 per share, respectively. The company anticipates achieving key milestones on construction projects throughout the year.



Read more at GlobeNewswire:: Northland Power Reports Fourth Quarter 2024 Results and