Investment Update | Review + Outlook
​We view Northland Power unfavorably due to its excessive dividend payout ratios that are helped by questionable financial reporting choices, driven and exacerbated by the company’s need to expand beyond its existing operations.
Northland Power owns or has an economic interest in 9 power projects totalling over 1,050 MW (net 815 MW). Co.'s assets comprise facilities that produce electricity from natural gas and renewable sources such as wind and biomass for sale under long-term power purchase agreements (PPAs) with customers. Co.'s plants are located in Canada, the United States and Germany. In addition, Co. has the 86 MW Spy Hill project, 260 MW North Battleford project and 100 MW Mont Louis wind farm under construction, 216 MW of wind, solar and run-of-river hydro projects awarded under the Ontario Power Authority's feed-in-tariff program in advanced stages of development and 24 MW wind farm near Frampton, Quebec.
Independent equity research focused on the North American market that leverages ARC’s unparalleled expertise in applying proprietary forensic accounting knowledge to investment analysis.
The ARC process is focused on avoiding financial reporting and accounting risks while identifying companies with superior adjusted cash flow metrics.
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