Northland Power Inc (Ontario) T.NPI

Sale of Iroquois Falls/Kingston Efficient Natural Gas Facil.

[Betteryear2]

TORONTO, April 07, 2022 (GLOBE NEWSWIRE) -- Northland Power Inc. (“Northland” or the “Company”) (TSX: NPI) today announced the sale of its Iroquois Falls and Kingston efficient natural gas-fired generating facilities (the “facilities”), both located in Ontario, to Validus Power Corp. The two facilities have a combined operating capacity of 230 megawatts (MW). The proceeds from the sale will provide Northland with additional liquidity to help fund the development capital required for its long-term growth objectives.

Northland Power Announces Sale of Iroquois Falls and Kingston Efficient Natural Gas-Fired Generating Facilities

[BayWall]

No dollar amount, but could be significant. Validus Power the buyer, is involved with Bitcoin mining and requires big power. By coincidence, a week ago: Validus Power Corp. and Startmining Announce Canadian Data Centre Expansion (newswire.ca)

[Dibah420]

What a waste of valuable energy in pumping what is essentially a PONZI.

[BayWall]

If that's where the electricity is going, to Bitcoin mining. But what choice was there? Contracts for two generating stations expired and facilities were sitting idle. The decision by an Ontario System Operator in 2017 and 2021 not to extend contracts started everything. More focused on going SMR nuclear route. Northland talks about the sale as if the funds received are something significant

[BayWall]

Eventually contracts will expire for the other 743MW of gas fired generating facilities. Northland's will reduce its carbon intensity, but that will be passed to others. The portfolio of onshore windfarms in Canada will be decomissioned as their contracts expire. And with that, no Canadian content. But, they will continue to seek local opportunities. Complicated, with each province managing