Issue 19 – Turning Wind Into Cash Flows
Northland Power Inc (TSX:NPI) reported a strong first quarter that beat consensus estimates. NPI reported an Adjusted EBITDA of C$290M and consensus was at C$257M. The beat came from better results from the offshore assets and lower expense. Furthermore, the company is also off to a great start in 2018. NPI won the contract for an offshore wind project in Taiwan (300MW), and the construction of the Deutsche Bucht offshore wind project continues to be on schedule and under budget.