Northland Power has outlined its strategic update and 2030 outlook, including a target to double gross operating capacity to 7GW by the end of the decade.
The company said it will deepen its focus on core markets to unlock additional portfolio value.
Northland is reorganising its structure into two regional hubs covering the Americas and International, supported by a centralised growth and delivery function.
The company aims to secure more than $50m in annual corporate and operational savings by 2028.
It has introduced a financial framework intended to support disciplined growth and maintain an investment-grade credit rating without external equity issuances.
Project return thresholds have been raised to a minimum of 12%, while the company is targeting a 10% total shareholder return and a 6% annual free cash flow per share growth rate by 2030, with FCF projected at $1.55–1.75/share.
“We look forward to presenting our strategy, built on a track record of successfully delivering power projects globally,” said Christine Healy (pictured), president and chief executive.
“Rising demand for energy is creating opportunities across our business. By maintaining a steadfast focus on safety, operational excellence, and disciplined capital allocation, we are positioning Northland to deliver sustainable, profitable growth. This strategic update highlights three key horizons – Deliver, Strengthen, and Grow – to ensure the Company remains resilient while driving value for shareholders.”
Toby Edmonds will lead the International hub, Calvin MacCormack will oversee the Americas, and Pierre-Emmanuel Frot will head the new project development and delivery function.
In a business update, Northland confirmed the acquisition of two late-stage pre-construction battery energy storage projects in Poland totalling 300MW/1.2GWh.
The company said the Mieczysławow and Kamionka projects have secured 17-year capacity auction contracts indexed to inflation, with further revenue expected from energy arbitrage and ancillary services.
Financing and construction are planned for 2026, with an estimated cost of €200m.
Northland also highlighted that its Nordsee One offshore wind farm has signed a five-year PPA with Shell Energy Europe covering around one-third of the facility’s 332MW output from June 2027.
Northland said it will focus on non-recourse project financing, asset sell-downs, partner equity and corporate hybrid debt to fund future growth.
The company reaffirmed its 2025 guidance for adjusted EBITDA and free cash flow per share.
Northland Power has also acquired two battery energy storage projects totalling 300MW in Poland from Greenvolt Power Group, according to the company.
Northland said the Mieczysławow project has a capacity of 200MW and 800MWh while Kamionka totals 100MW and 400MWh.
Both projects are four-hour systems located in western Poland.
The company said a portion of revenue is secured under 17-year capacity auction contracts indexed to inflation, with additional revenue expected from energy arbitrage and ancillary service markets.
Northland added that financing and the start of construction are planned for 2026 at an estimated total cost of €200m.
The company said the projects will be among the first operational battery facilities in Poland.
“This acquisition marks an important milestone in advancing Poland’s energy transformation and expanding Northland’s portfolio in a core market,” said Christine Healy, president and chief executive officer of Northland.
Healy added: “Battery storage is essential to enabling a reliable, lower-carbon energy system, and these projects represent a strong strategic fit with our growth ambitions.”
Northland said the transaction supports Poland’s shift from coal-based generation as renewable capacity grows.