TORONTO, ON --(Marketwired - December 13, 2017) - Northland Power Inc.
("Northland" or the "Company") (TSX: NPI) (TSX: NPI.PR.A) (TSX: NPI.PR.B) (TSX: NPI.PR.C)
(TSX: NPI.DB.B) (TSX: NPI.DB.C) Board of Directors declared the
December dividend to be $0.10 per share. The dividend, payable in January 2018 is an increase of 11% over its previous $0.09 per
share.
John Brace, Northland's Chief Executive Officer, commented, "This is a very meaningful announcement for us. The dividend
increase is a direct result of the company's strong performance, including the success of our offshore wind strategy, and
reflects our confidence and excitement about Northland's future."
ABOUT NORTHLAND
Northland is an independent power producer founded in 1987, and publicly traded since 1997. Northland develops, builds,
owns and operates facilities that produce 'clean' (natural gas) and 'green' (wind, solar, and hydro) energy, providing
sustainable long-term value to shareholders, stakeholders, and host communities.
The Company owns or has a net economic interest in 1,732 MW of operating generating capacity and 584 MW (534 MW net
interest to Northland) of generating capacity under construction, representing an 85% equity stake in Nordsee One and a 100%
interest in Deutsche Bucht.
Northland's cash flows are diversified over four geographically separate regions and regulatory jurisdictions in Canada
and Europe.
Northland's common shares, Series 1, Series 2 and Series 3 preferred shares and Series B and Series C convertible
debentures trade on the Toronto Stock Exchange under the symbols NPI, NPI.PR.A, NPI.PR.B, NPI.PR.C, NPI.DB.B, and NPI.DB.C,
respectively.
FORWARD-LOOKING STATEMENTS
This press release contains certain forward-looking statements that are provided for the purpose of presenting information
about management's current expectations and plans. Readers are cautioned that such statements may not be appropriate for other
purposes. Forward-looking statements include statements that are predictive in nature, depend upon or refer to future events or
conditions, or include words such as "expects," "anticipates," "plans," "predicts," "believes," "estimates," "intends,"
"targets," "projects," "forecasts" or negative versions thereof and other similar expressions or future or conditional verbs such
as "may," "will," "should," "would" and "could." These statements may include, without limitation, statements regarding future
adjusted EBITDA, free cash flows, dividend payments and dividend payout ratios; the construction, completion, attainment of
commercial operations, cost and output of development projects; litigation claims; plans for raising capital; and the future
operations, business, financial condition, financial results, priorities, ongoing objectives, strategies and outlook of Northland
and its subsidiaries. These statements are based upon certain material factors or assumptions that were applied in developing the
forward-looking statements, including the design specifications of development projects, the provisions of contracts to which
Northland or a subsidiary is a party, management's current plans and its perception of historical trends, current conditions and
expected future developments, as well as other factors that are believed to be appropriate in the circumstances. Although these
forward-looking statements are based upon management's current reasonable expectations and assumptions, they are subject to
numerous risks and uncertainties. Some of the factors that could cause results or events to differ from current expectations
include, but are not limited to, natural events, construction risks, counterparty risks, operational risks, risks relating to
co-ownership, the variability of revenues from generating facilities powered by intermittent renewable resources, power market
risks and possible inflation risks and the other factors described in the "Risks and Uncertainties" section of Northland's 2016
Annual Report and the 2016 Annual Information Form dated March 2, 2017, both of which can be found at www.sedar.com under Northland's profile and on Northland's website at www.northlandpower.ca. Northland's actual results could differ materially from those expressed in, or implied by,
these forward-looking statements and, accordingly, no assurances can be given that any of the events anticipated by the
forward-looking statements will transpire or occur.
The forward-looking statements contained in this release are based on assumptions that were considered reasonable on
December 13, 2017. Other than as specifically required by law, Northland undertakes no obligation to update any forward-looking
statements to reflect events or circumstances after such date or to reflect the occurrence of unanticipated events, whether as a
result of new information, future events or results, or otherwise.