Northland Power (NPI TSX) Many utilities and power producers outperformed the market last quarter as the increase in power demand now resonates with the market amid all the growth that we’ve seen in the power-intensive AI space. However, Northland Power has lagged behind its peers as it currently faces execution risk on the three large projects that are currently under construction.
As management continues to provide positive project updates, value in the stock should unlock and investors will feel more comfortable owning the name. Northland has a strong record of execution with previous large projects and we feel confident in the team’s ability to continue the trend. In the latest conference call, management indicated that all three projects remain on schedule and within budget and should come online by 2027.