Northland Power Capitalized Growth & Strategic Overview
Financial Strategy
Disciplined and flexible approach to project funding
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NORTHLAND
POWER
The Company manages its capital strategy with a high degree of selectivity in funding its capitalized
growth projects
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Project Funding
Northland Equity
Sell-Down Partner Equity
Sell-Down Premium
Senior Debt
Green Corporate Hybrids
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Focused on maintaining an investment grade rating
Credit facilities support short-term funding needs with borrowings repaid from project financings at
financial close, corporate and/or project-level financing/re-financing optimizations and/or sell downs
at or before financial close
Free Cash Flow finances growth development expenditures (devex), corporate costs that support
growth and new initiatives
Partial sell-down of ownership interests in certain development assets on or before financial close to
complement existing sources of funding
Additional funding sources help improve Northland's financial flexibility, while supporting the capital
and credit requirements for development projects.
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