Northland Power ( (TSE:NPI) ) has issued an announcement.
Northland Power has secured financing for its Jurassic Battery Energy Storage System project in Alberta, marking its second battery storage financing. The 80 MW, 2-hour battery storage system will be Alberta’s largest once completed and is expected to enhance the stability and reliability of the province’s energy grid. With a project cost of approximately $120 million, it is anticipated to contribute about $15 million of annual Adjusted EBITDA upon reaching commercial operation in late 2026. This project underscores Northland’s commitment to expanding its footprint in Canada and diversifying its asset base, highlighting the growth potential of its multi-technology approach.
Spark’s Take on TSE:NPI Stock
According to Spark, TipRanks’ AI Analyst, TSE:NPI is a Outperform.
Northland Power scores well due to its robust financial performance, positive earnings outlook, and attractive dividend yield. The company’s strong project pipeline and strategic partnerships enhance its growth prospects, although high leverage and potential regulatory challenges require attention. The technical indicators support a generally positive momentum, albeit with some caution due to its proximity to long-term averages.
To see Spark’s full report on TSE:NPI stock, click here.
More about Northland Power
Northland Power is a Canadian-based global power producer founded in 1987, specializing in a diversified mix of energy infrastructure assets including offshore and onshore wind, solar, battery energy storage, and natural gas. With headquarters in Toronto, Canada, and global offices in seven countries, Northland owns or has an economic interest in 3.2 GW of gross operating generating capacity and 2.4 GW under construction. The company is publicly traded on the Toronto Stock Exchange.
YTD Price Performance: 1.13%
Average Trading Volume: 94,071
Technical Sentiment Signal: Strong Buy
Current Market Cap: $3.36B
For detailed information about NPI stock, go to TipRanks’ Stock Analysis page.