GameStop, AMC is again trading with Chinese online brokers

Northland Power announces the acquisition of a 49% stake in the Baltic Power offshore wind project in Poland with a potential capacity of up to 1200 MW

Northland Power announces the acquisition of a 49% stake in the Baltic Power offshore wind project in Poland with a potential capacity of up to 1200 MW

Northland is further expanding its European offshore wind presence with a strategic partnership in Poland. TRANSACTION HIGHLIGHTS Continuing Northland’s strategy of leveraging its top ten position in the offshore wind sector worldwide to expand its offshore wind portfolio Poland offers an attractive investment destination with a clear roadmap for offshore wind and other renewable technologies such as onshore wind and solar. The project is expected to benefit from a 25-year long-term sales contract. Strategic Partner PKN ORLEN, Poland’s Largest Company, Offers Significant Local Presence TORONTO, Jan. 29, 2021 (GLOBE NEWSWIRE) – Northland Power Inc. (« Northland ») (TSX: NPI) announced today that it has an agreement with PKN ORLEN SA (« PKN ORLEN ») (WSE: PKN) has a 49% stake (subject to official approvals) in the Baltic Power offshore wind project in the Baltic Sea (« Baltic Powe r ») with a total capacity of up to 1,200 megawatts (MW ) Offshore wind generation. Baltic Power is a mid-development project located about 23 kilometers off the Polish Baltic coast. The project, which has received its site permit, signed its grid connection agreement and submitted its environmental permit in 2020, enables Northland to capitalize on the growth in demand for renewable energy in a growing Central European market. Including the purchase price, Northland expects to invest around PLN 290 million (CAD 100 million) in the development of the Baltic energy in 2021, part of which represents development expenses that will be spent in the course of 2021. « Today’s announcement reflects Northland’s continued growth and leadership in renewable energy, strengthening our position as the world’s leading provider of offshore wind turbines, » said Mike Crawley, President and Chief Executive O. fficer from Northland. “We’re excited. We’d like to work with PKN ORLEN to expand our presence in Europe through the development of the Baltic Power offshore wind project. More importantly, we continue to contribute to the global transition to decarbonization by helping Poland meet its renewable energy ambitions. “PKN ORLEN is the largest company in Central and Eastern Europe and is listed on the Warsaw Stock Exchange (WSE: PKN). The company is part of the ORLEN Group, which operates in six markets: Poland, Czech Republic, Germany, Lithuania, Slovakia and Canada. PKN ORLEN is an important player in the Polish energy market with a generation capacity of 3.2 GWe. The partnership between Northland and PKN ORLEN (collectively the « Partnership ») will jointly develop Baltic Power’s opportunity to enter into a 25-year Difference Acquisition Agreement (CfD) that provides Northland with an investment that meets the company’s corporate goals Create high quality projects that are based on sales contracts and deliver predictable cash flows. Construction work is scheduled to begin in 2023. Commercial operation is expected in 2026. Baltic Power is a natural addition to Northland’s extensive offshore wind portfolio and provides a new market for the company to further enhance the geographic and regulatory diversity of its portfolio and cash flows. Northland currently has a stake in three operational offshore wind turbines in the Nordsee, Gemini, Nordsee One and Deutsche Bucht operations with a total gross capacity of around 1,200 MW (890 MW net after Northland). Upon completion, Baltic Power will significantly increase Northland’s total gross offshore wind capacity in Europe to around 2,400 MW (1,500 MW net). Poland, a member state of the European Union, is the fifth largest with around 40 million inhabitants The largest country in the European Union and the largest market in Central and Eastern Europe. The country has an S&P investment grade rating of A-, with strong forecasts for economic growth and a growing middle class. Energy demand in Poland is expected to increase in the coming decades if the country continues its economic growth. The Polish draft energy policy stipulates that 10 to 12 GW of offshore wind capacity and an additional 15 GW of solar capacity must be added by 2040. The country’s recent enactment of the offshore wind law paves the way for Poland to develop offshore wind. This will lead to significant investments in renewable energy generation. Once completed, Baltic Power will make a significant contribution to the future of clean and green energy generation in Poland. Northland’s business strategy is focused on building a significant global presence in target markets by leveraging its expertise, early stage benefit and strategic local partnerships to enter new markets. Northland’s offshore wind portfolio includes operations and development projects in Europe and a significant development portfolio in Asia that includes Hai Long with 1,044 MW, Dado Ocean with 1,000 MW and Chiba with 600 MW in Taiwan, South Korea and Japan. Please Note: All amounts expressed herein are converted to Canadian Dollars using a PLN / Cad exchange rate of 0.34. ABOUT NORTHLAND POWER Northland Power is a global power company committed to the clean energy transition by generating power from clean renewable resources. Founded in 1987, Northland has a long history of developing, building, owning and operating infrastructure assets for clean and green energy and is a leading global provider of offshore wind power lay. In addition, Northland owns and manages a diversified generation mix that includes onshore renewable energy, solar and efficient natural gas, and regulated utility energy. Northland is headquartered in Toronto, Canada and has offices in eight countries. The company has or has an economic interest in 2.7 GW (net 2.3 GW) of operating capacity and a large inventory of early stage development opportunities with a potential capacity of nearly 4.0 GW. Northland Series 1, 2 and 3 common stock, publicly traded since 1997, traded on the Toronto Stock Exchange under the symbols NPI, NPI.PR.A, NPI.PR.B and NPI.PR.C, respectively. ABOUT PKN ORLEN PKN ORLEN is the largest company in Central and Eastern Europe and is listed in prestigious global rankings such as Fortune Global 500 and Platts TOP250. The ORLEN Group operates in six home markets: Poland, the Czech Republic, Germany, Lithuania, Slovakia and Canada. The group has state-of-the-art integrated facilities with an annual processing capacity of over 35 million tons of various types of crude oil and markets its products through the largest network in the region with over 2,800 modern filling stations. The ORLEN Group offers over 50 high-quality petrochemical and refinery products that are sold in more than 110 countries on 6 continents. PKN ORLEN is an important player in the Polish energy market with a generation capacity of 3.2 GWe. The Group’s upstream assets include 2P oil and gas reserves, valued at 197.3 million barrels at the end of 2019. PKN ORLEN is leading the way in creating a single company with a diversified source of income and a strong position in the European market. In April 2020 the group took over the Energa Group, in July 2020 it received from the European Commission the conditional approval for the takeover of Grupa LOTOS and has initiated the process for the takeover of PGNiG. Full asset integration will be an important step in building a strong multi-utility group with global potential. ORLEN has been recognized as the most valuable Polish brand for several years in a row, valued at PLN 4.7 billion. PKN ORLEN is also the only company in the region to have received the coveted title of « The Most Ethical Company » from the US Ethisphere Institute for the seventh year in a row. FORWARD-LOOKING STAT EMENTS This version contains certain forward-looking statements. Readers are cautioned that such statements may not be suitable for other purposes. Forward-looking statements include statements that are predictive, depend on or relate to future events or conditions, or words such as « expects », « anticipates », « plans », « believes », « estimates », « intends » . « Goals », « projects », « projections » or negative versions thereof and other similar expressions or future or conditional verbs such as « may », « will », « should », « would » and « could ». These statements may contain, without limitation, statements about Northland’s expectations or ability to complete future offers of securities. These statements are based on certain material factors or assumptions that were used in developing the forward-looking statements. Although these forward-looking statements are based on the current reasonable expectations and assumptions of management, they are subject to numerous risks and uncertainties. Factors that could cause results or events to differ from current expectations include, but are not limited to, construction risks, counterparty risks, operational risks, exchange risks urse, regulatory risks, maritime risks to construction and operations, and the variability of income from the generation of facilities that run on intermittent renewable resources, and the other factors discussed in the “Risks and Uncertainties” section of the Northland Annual Report 2019 and the The annual information form. Both can be found on www.sedar.com under Northland’s Profile and on Northland’s website at northlandpower.com. Northland’s actual results could differ materially from those expressed or implied in these forward-looking statements. Accordingly, no assurance can be given that any of the events anticipated in the forward-looking statements will occur or will occur. The forward-looking g The statements in this press release are based on assumptions that were believed to be reasonable at the time of publication. Northland undertakes no obligation to update any forward-looking statements to reflect events or circumstances after that date or to reflect the occurrence of unexpected events, whether as a result of new information, future events or results or otherwise. For more information, please contact: Wassem Khalil, Senior Director, Investor Relations & amp; Strategy +1 (647) 288-1019investorrelations@northlandpower.com For media inquiries, please contact Susan Sperling, Director of Communications +1 (647) 288-1105communications@northlandpower.com

GameStop, AMC is again trading with Chinese online brokers
4.9 (98%) 32 votes