Northland Power Reports Third Quarter 2026 Results, Value Accretive Growth Updates and Reaffirms 2026 Guidance
Key Highlights
- ➤Adjusted EBITDA $280 million, up 9% year-over-year
- ➤Net income $201 million versus $456 million loss
- ➤Hai Long installs all 73 turbines, generating power
- ➤Baltic Power installs all 76 turbines; over 70% generating
- ➤Northland reaffirms 2026 full-year guidance
Expert Statements
Christine Healy, President and CEO of Northland Power
“This quarter marks an important phase for Northland as our major offshore wind projects begin to transition from construction into operations and generating cash flow. At the Baltic Power and Hai Long offshore wind projects we have installed all turbines, with all of Hai Long’s turbines now generating power. We continued to deliver on our commitments by completing the Jurassic BESS project ahead of schedule and under budget.”
Christine Healy, President and CEO of Northland Power
“I am proud of our team's continued excellence and disciplined execution. Our differentiated track record of execution, coupled with growing near-term development pipeline, position’s Northland to meet growing electricity demand across our core markets.”
TORONTO, Nov. 12, 2026 (GLOBE NEWSWIRE) -- Northland Power Inc. (“Northland” or the “Company”) (TSX: NPI) today reported financial results for the three and nine months ended September 30, 2026. All dollar amounts set out herein are in Canadian dollars, unless otherwise stated.
Highlights * Increased Adjusted EBITDA by 9% year-over-year, driven by new contributions from the Hai Long (1.0 GW) and Baltic Power (1.1 GW) offshore wind projects. * Demonstrated Northland's execution excellence by achieving commercial operations ahead of schedule and under budget on the Jurassic (80 MW / 160 MWh) Battery Energy Storage System (BESS) project in Alberta. * Achieved full turbine installation at Hai Long, with all 73 turbines installed and now generating power, and secured incremental debt funding to support the project. * Reached a major milestone at Baltic Power by completing the installation of all 76 turbines, over 70% generating power and the project advancing through commissioning. * Continued construction of the Kamionka (100 MW / 400 MWh) and Mieczysławów (200 MW / 800 MWh) BESS projects in Poland and secured project financing. * Advanced approximately 900 MW of value accretive near-term development opportunities across core markets, with planned delivery by 2030. * Achieved 93% commercial availability, with year-to-date electricity production in line with historical averages. * Management reaffirmed its 2026 full-year guidance. “This quarter marks an important phase for Northland as our major offshore wind projects begin to transition from construction into operations and generating cash flow. At the Baltic Power and Hai Long offshore wind projects we have installed all turbines, with all of Hai Long’s turbines now generating power. We continued to deliver on our commitments by completing the Jurassic BESS project ahead of schedule and under budget.” said Christine Healy, President and CEO of Northland. “I am proud of our team's continued excellence and disciplined execution. Our differentiated track record of execution, coupled with growing near-term development pipeline, position’s Northland to meet growing electricity demand across our core markets.”
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