The Canada Spain Chamber of Commerce is pleased to announce that Northland Power Inc energy operator of Canadian origin, has joined the Chamber as a Gold member.
Northland Power Inc. (NPI) was founded in 1987 and has been listed on the Toronto Stock Exchange since 1997, the city where its headquarters are located. Its more than 1,150 employees work in 8 countries in the Americas, Europe and Asia, where NPI develops, builds and operates clean power plants and other electrical infrastructure. The energy sources used by NPI plants range from low-emission natural gas to renewable energy sources such as wind, solar photovoltaic and thermoelectric. In addition to the total power operated by the company, which reaches 3.2 GW, there is a portfolio of projects under development of between 4 and 5 GW of power, in different stages of progress.
In Spain, Northland Power Spain acquired in April 2021 the renewable portfolio of Bankinter and PleniumPartners, with 540 MW spread over 33 operating plants,
with onshore wind power (424 MW), solar photovoltaic (66 MW) and concentrated solar power (50 MW) located throughout Spain. The portfolio fits with NPI’s priority to diversify and add high quality cash flows. All the assets acquired are regulated under the Spanish framework that was implemented in 2013, a regime that replaced the previous premium regime and that provides a regulated performance based on a standard set of operating parameters.
The acquisition of this portfolio immediately positions Northland as one of the top 10 renewable energy operators in Spain. The company’s goal is to continue growing in one of the most attractive markets in Europe over the next decade, both in renewable energies, storage and hydrogen projects, in addition to establishing a European asset management platform from Spain that can support entry into other European markets.
As a Canadian company that operates and develops in Spain, our new partner joins the Chamber with the desire to share experiences and collaborate with the Chamber and its activities for which we are very grateful and proud of their adhesion.