* 54 MW Mont Miller wind farm sold to neighbor
* Mont Miller has Hydro-Quebec contract to 2026
OTTAWA Dec 16 Northland Power Income Fund
NPI_u.TO said on Thursday that it has agreed to sell its 54
megawatt Mont Miller wind farm to NextEra Energy Resources, a
power producer that owns a similar, neighboring project.
Northland did not disclose the value of the sale and was
not immediately available for comment. The wind farm began
commercial operation in 2005 and has a contract to sell all its
power to provincial utility Hydro-Quebec until 2026.
"We were not seeking a buyer for Mont Miller, and in fact
we are actively pursuing other wind farm opportunities in
Quebec, but consolidation of the two projects made sense for
operating and maintenance efficiencies," Northland Chief
Executive John Brace said in a statement.
Florida-based NextEra owns the 54 MW Mount Copper wind
farm, enough to power more than 16,200 homes, next door to Mont
Miller, in Murdochville, Quebec.
Northland said it recently closed a C$106 million ($105
million) debt financing for a 100 MW wind farm it is building
near Mont Louis, Quebec. It is also building two natural gas
fired power facilities in Saskatchewan.
Electricity from the three projects will be sold under
long-term contracts to provincial utilities, the Toronto-based
When construction is completed in 2013, Northland's
capacity will jump by more than 50 percent to exceed 1,250 MW.
The company has natural gas, wind and biomass power facilities
in Canada, the United States and Germany.
Northland said it will use proceeds from the Mont Miller
sale to fund future development and for general corporate
purposes. Additional property sales are not anticipated, it
The company has 216 MW of wind, solar and run-of-river
hydroelectric projects that have been awarded contracts under
Ontario's feed-in-tariff program, which it said are in advanced
Northland units were up 5 Canadian cents at C$15.79 on the
Toronto Stock Exchange on Thursday.
(Reporting by Susan Taylor; editing by Rob Wilson)