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Northland Power undertaking strategic review of business

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Northland Power undertaking strategic review of business

NorthlandPower Inc. has commenced a strategic review of the business.

Without disclosing any information, James Temerty, thecompany's founder, largest shareholder and chair, said Northland Power plans toposition itself so it could capitalize on renewable energy infrastructuredevelopment opportunities. "[W]e are seeing more and larger opportunitiesthan ever before. To ensure the company is best positioned to capitalize onthese opportunities, we determined that this is an appropriate time to reviewthe options available for the next phase of the company's growth," Temertysaid in a July 12 news release.

CIBC World Markets Inc. and J.P. Morgan Securities LLC willact as Northland Power's financial advisers during the review process.

"[W]e will only embark on a new course if it offerssuperior value for shareholders and an even stronger platform for future growththan the one we have today," Temerty added.

Northland Power is currently advancing approximately C$6billion in construction projects with its partners. The company owns or has neteconomic interests in 1,394 MW of operating generating capacity spread acrossnatural gas, wind, solar and hydro facilities.