Northland Power

What Northland Power does

Northland Power Inc. is a Toronto-headquartered, TSX-listed (NPI) global power producer founded in 1987 that develops, builds, owns, and operates clean and renewable electricity infrastructure assets. The company operates approximately 3.2 GW (net 2.8 GW) of generating capacity across offshore wind, onshore wind, solar PV, concentrated solar, natural gas combined-cycle, and battery energy storage, plus a regulated electricity distribution utility (Empresa de Energía de Boyacá / EBSA) in Colombia. Operations span eight countries — Canada, the United States, the Netherlands, Germany, Poland, Spain, Taiwan, and South Korea — with a development pipeline of roughly 12 GW targeting 7 GW of gross operating capacity by 2030.

The business sells electricity through long-term power purchase agreements (PPAs) of 20-30 years with utilities, grid operators, and large corporate offtakers such as TSMC (30-year, 294 MW from Hai Long), Shell Energy Europe (5-year for Nordsee One output), and the IESO (20-year contract for Oneida storage). Development-stage flagship projects include the 1.2 GW Baltic Power offshore wind farm in Poland (joint venture with ORLEN, featuring 76 x 15 MW Vestas turbines, scheduled for 2026 completion) and the 1.022 GW Hai Long offshore wind farm in Taiwan (joint venture with Mitsui 40%, Northland 30.6%, Gentari 29.4%, full operations expected 2027). The 250 MW / 1,000 MWh Oneida Energy Storage facility in Ontario is the largest grid-scale battery storage facility in Canada.

The revenue model is subscription-recurring in nature, anchored by contracted offtake agreements and regulated tariff structures rather than spot-market electricity sales. Q1 2026 revenue was approximately $775 million (+19.4% YoY) with net income of $161 million (+45% YoY), and 2026 adjusted EBITDA guidance is $1.45-1.65 billion. In November 2025, the company cut its dividend by 40% (from C$1.20 to C$0.72 annually) to preserve approximately $125 million of annual cash flow for offshore wind project completion, which triggered a 27-30% decline in the share price. The company maintains a diversified public capital structure including common shares, multiple preferred share series, and convertible debentures listed on the TSX.

Name

Northland Power

Legal name

Northland Power Inc.

Website

https://northlandpower.com

Company type

Public

Founded year

1987

Operating status

Operating

Headcount range

501–1,000 employees

Short description

Northland Power is a Toronto-headquartered, TSX-listed global power producer that develops, owns, and operates approximately 3.2 GW of renewable and clean energy infrastructure — offshore and onshore wind, solar, natural gas, battery storage, and a Colombian regulated utility — selling electricity under long-term PPAs to utilities and corporate offtakers across eight countries.

Ownership category

akta.pro rank

Product category

Independent Power Producer / Renewable Energy Generation

NAICS

Electric Power Generation (22111), Wind Electric Power Generation (221115), Solar Electric Power Generation (221114), Fossil Fuel Electric Power Generation (221112)

SIC

Electric Services (4911), Cogeneration Services & Small Power Producers (4991)

akta.pro primary industry

Wind Farm Ownership & Operations (IPP/Utility-Owned Asset Operations) (EUACAFAF)

akta.pro secondary industries

Utility-Scale Generator PPAs (Project Offtake) (EUAGADAB), Gas-Fired Power Plant Development & IPP Ownership (Greenfield/Brownfield) (EUACABAI)

Keywords

• Offshore wind generation
• Renewable power production
• Battery energy storage
• Natural gas generation
• Regulated utility services

Headquarters

HQ city

Toronto

HQ country

Canada

HQ region

North America

Offices9 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Infrastructure, Operations, Supply Chain, Personnel, Technology or R&D, Marketing or Sales

Revenue model

1. Electricity Generation Sales: Northland Power generates revenue by producing and selling electricity from its portfolio of renewable energy assets including offshore wind, onshore wind, solar, and natural gas facilities through long-term power purchase agreements with utilities and corporate offtakers.
2. Energy Storage Services: The company operates the Oneida Energy Storage facility delivering critical capacity and grid services to Ontario's electricity grid under a 20-year fixed price contract with the IESO.
3. Regulated Utility Revenue: Northland operates Empresa de Energía de Boyacá (EBSA), a regulated utility in Colombia, generating stable regulated revenue from electricity distribution services.

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels3 records

Core offering

Northland Power develops, builds, owns, and operates clean power infrastructure assets producing electricity from offshore wind, onshore wind, solar PV, concentrated solar, natural gas, and battery energy storage. The company sells the generated electricity under long-term power purchase agreements (PPAs) to utilities, grid operators, and large corporate offtakers, and also operates a regulated electricity distribution utility in Colombia (EBSA).

Product overview

Northland Power is a global power producer operating as a single unified platform across multiple renewable energy asset categories. The company manages approximately 3.2 GW (net 2.8 GW) of operating generating capacity with a development pipeline of around 12 GW. The product portfolio consists of four core asset types: Wind Power (onshore and offshore wind facilities across North America, Europe, and Asia-Pacific), Solar Power (ground-mounted PV and concentrated solar across Canada and Spain), Natural Gas (efficient gas-fired generation including combined-cycle and peaking facilities in Canada), and Energy Storage (battery storage systems including the flagship Oneida facility). The company also operates a regulated utility (EBSA in Colombia). Key development projects include Baltic Power (1.2 GW offshore wind in Poland) and Hai Long (1.0 GW offshore wind in Taiwan). Operating assets span European offshore wind farms (Deutsche Bucht, Gemini, Nordsee One), a 559 MW Spanish onshore renewables portfolio, and numerous Canadian solar and North American natural gas facilities.

Differentiator

Problem solved

Functional benefit

Products and services

• Oneida Energy Storage 250 MW/1,000 MWh lithium-ion battery energy storage facility providing grid capacity and storage services to Ontario's electricity grid under a 20-year fixed price contract with the IESO. Largest grid-scale battery storage facility in Canada.
• Baltic Power Offshore Wind 1.2 GW offshore wind farm located 23 km off the Polish coast, joint venture between ORLEN and Northland Power, featuring 76 x 15 MW Vestas turbines. Expected to generate 4,000 GWh annually upon completion in 2026. Poland's most advanced offshore wind project currently in construction.
• Hai Long Offshore Wind 1.022 GW offshore wind project off Taiwan's western coast in Changhua, developed as a joint venture with Mitsui & Co. (40%) and Gentari International Renewables (29.4%); Northland holds 30.6%. Full operations expected by 2027 with TSMC as sole offtaker under a 30-year PPA.
• Wind Power Generation Onshore and offshore wind power generation assets producing electricity from wind resources. Includes operating facilities across North America, Europe, and development projects in Taiwan, Poland, and Scotland. Backed by long-term PPAs with utilities and corporate offtakers.
• Solar Power Generation Ground-mounted photovoltaic and concentrated solar power generation assets including multiple Ontario solar facilities and Spanish solar installations (66 MW solar PV and 50 MW concentrated solar as part of the 2021 Helia acquisition).
• Natural Gas Power Generation Efficient natural gas power generation facilities including combined-cycle and simple-cycle plants across Canada. Assets include Thorold Cogeneration Station (265 MW), North Battleford (275 MW), Kirkland Lake (111 MW), and Spy Hill (86 MW).
• Empresa de Energía de Boyacá (EBSA) - Regulated Utility Regulated electricity distribution utility in Colombia serving the Boyacá department, providing stable regulated revenue from electricity distribution services to end consumers under regulated tariff structures.
• Nordsee One Offshore Wind 332 MW offshore wind farm in the German North Sea, 85% owned by Northland Power. Signed 5-year PPA with Shell Energy Europe for approximately one-third of output starting June 2027.
• Gemini Offshore Wind 600 MW offshore wind farm in Dutch waters, 60% owned by Northland Power through Gemini Windpark. Part of European offshore wind operating portfolio.
• Deutsche Bucht Offshore Wind Wholly-owned offshore wind farm in the German North Sea, part of Northland Power's European offshore wind portfolio, operated through Northland Deutsche Bucht GmbH.
• Spanish Onshore Renewables Portfolio 559 MW operating wind and solar portfolio in Spain comprising 33 assets (435 MW onshore wind, 66 MW solar PV, and 50 MW concentrated solar), acquired in August 2021. Establishes Northland as a Top 10 renewable operator in Spain.
• Polish Battery Energy Storage System (BESS) Projects Two battery energy storage system projects totaling 300 MW / 1.2 GWh in western Poland, acquired from Greenvolt Power Group in November 2025. Currently in late-stage pre-construction with financing and construction expected to begin in 2026.

Quantifiable outcome

• Q1 2026 revenue of $775 million (19.44% YoY growth)
• +3 more outcomes

Named customers3 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Eight partnerships are on record, tiered major and core.

• VestasmajorTechnology or Integration · 12 June 2026Vestas will maintain and operate 76 wind turbines for the Baltic Power offshore wind project under long-term maintenance agreements. Vestas opened a nacelle manufacturing facility in Szczecin, Poland for the project.
• TSMC (Taiwan Semiconductor Manufacturing Company)coreStrategic or Co-development Partner · 30 April 2026TSMC signed a 30-year Power Purchase Agreement to offtake 294MW of power from the Hai Long offshore wind farm, expanding on an existing 2022 agreement. TSMC becomes the sole offtaker of the entire 1.022GW wind farm, supporting TSMC's goal of 100% renewable energy for global operations by 2040.
• Greenvolt Power GroupmajorStrategic or Co-development Partner · 20 November 2025Northland Power acquired two battery energy storage system (BESS) projects totaling 300 MW / 1.2 GWh in Poland from Greenvolt Power Group. Projects are in late-stage pre-construction phase with financing and construction expected to begin in 2026.
• Shell Energy Europe LtdcoreStrategic or Co-development Partner · 18 November 2025Shell Energy Europe Limited signed a 5-year Power Purchase Agreement for approximately one-third of output from Nordsee One offshore wind farm (332 MW), beginning June 2027. The PPA was secured through a structured tendering process and supports Shell's renewable hydrogen electrolyser project in Germany.
• Six Nations of the Grand River Development Corporation (SNGRDC)coreStrategic or Co-development Partner · 1 May 2025Partnership with Six Nations of the Grand River Development Corporation as part of the Oneida Energy Storage project, along with NRStor Inc., Aecon Concessions, and Mississaugas of the Credit Business Corporation.
• ORLEN (Poland's Oil and Gas Company)coreStrategic or Co-development Partner · 1 January 2023Baltic Power is an offshore wind farm joint venture between ORLEN and Northland Power, representing Poland's most advanced offshore wind project. The project received final investment decision and financing from 25 international institutions in 2023. Estimated budget exceeds 10 billion zł, with 15 MW wind turbines and scheduled completion in 2026.
• Mitsui & Co.coreStrategic or Co-development Partner · 1 January 2022Mitsui & Co. holds 40% stake in the Hai Long offshore wind project (1,022 MW) in Taiwan, developed jointly with Northland Power (30.6%) and Gentari International Renewables (29.4%). Full operations expected by 2027.
• Gentari International RenewablescoreStrategic or Co-development Partner · 1 January 2022Gentari International Renewables holds 29.4% stake in the Hai Long offshore wind project (1,022 MW) in Taiwan, developed jointly with Northland Power (30.6%) and Mitsui & Co. (40%).

Scale indicators8 records

Recent moves6 records

Expansion highlights6 records

Market position

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/northlandpower
• YouTubeyoutube.com/@NorthlandPowerInc
• LinkedInlinkedin.com/company/northland-power-inc-

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Subsidiaries10 records

Funding overview

Funding rounds1 record

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Northland Power