Brief: Northland Power Announces Signing Of Credit Agreement For $5.2 Billion Project Financing At Baltic Power Offshore Wind Project

Northland Power (Ontario)

19/09/2023 11:14

Sept 19 (Reuters) - Northland Power Inc  NPI.TO :
    * NORTHLAND POWER ANNOUNCES SIGNING OF CREDIT AGREEMENT FOR
$5.2
BILLION PROJECT FINANCING AT BALTIC POWER OFFSHORE WIND PROJECT
    * NORTHLAND POWER INC - PROJECT IS EXPECTED TO PROVIDE
STRONG FREE
CASH FLOW AND ADJUSTED EBITDA UPON ACHIEVING FULL COMMERCIAL
OPERATIONS IN 2026
    * NORTHLAND POWER INC - BALTIC POWER WILL NEARLY DOUBLE
COMPANY'S
GROSS INSTALLED OFFSHORE WIND CAPACITY FROM 1.2 GW TO 2.3 GW
    * NORTHLAND POWER INC - SECURED ALL NECESSARY EQUITY FUNDING
REQUIRED FOR PROJECT
    * NORTHLAND POWER INC - PROJECT'S TOTAL CAPITAL COST IS
PROJECTED
TO BE APPROXIMATELY $6.5 BILLION
    * NORTHLAND POWER INC - NORTHLAND'S INTEREST IN BALTIC POWER
EXPECTED TO GENERATE 5-YEAR AVERAGE ADJUSTED EBITDA OF ABOUT
$300 TO $320 MILLION PER YEAR
    * NORTHLAND POWER INC -  NORTHLAND'S INTEREST IN BALTIC
POWER
EXPECTED TO GENERATE $95 TO $105 MILLION OF FREE CASH FLOW PER
YEAR ONCE OPERATIONAL

Source text for Eikon:  ID:nGNX1lyZ2z 
Further company coverage:  NPI.TO 

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