|By Marketwired .||
|April 24, 2014 06:37 PM EDT||
TORONTO, ONTARIO -- (Marketwired) -- 04/24/14 -- Northland Power Inc. ("Northland") (TSX: NPI)(TSX: NPI.PR.A)(TSX: NPI.PR.C)(TSX: NPI.DB.A)(TSX: NPI.DB.B) announced today that it has completed financing for the fourth and last phase of its 130 MW ground-mount program. The five solar projects, totaling 50 MW, are located in various communities in northern and central Ontario. The financing process was managed by The Bank of Tokyo Mitsubishi UFJ, Ltd., Mizuho Corporate Bank, Ltd., Sumitomo Mitsui Banking Corporation, Nordeutsche Landesbank and Siemens Financial Ltd. as Lead Arrangers, and included Raymond James Ltd., CIT Financial Ltd, and Laurentian Bank of Canada. The facilities consist of a $240 million construction credit facility with an 18-year term loan.
"Renewable energy sources such as solar are a rapidly growing portion of Ontario's energy mix," said John Brace, CEO of Northland. "As we expand our portfolio of solar assets across the province, we look forward to delivering strong returns to shareholders while producing clean, renewable energy that contributes to the long-term sustainability of our electricity system and environment."
"MUFG is pleased to work with Northland Power arranging this important transaction. The deal's success reflects the company's vast experience and recognition by lenders that Northland is a premier developer in Canada," said Carmelo Restifo, director at MUFG. "This is the fourth non-recourse solar financing MUFG has successfully executed for Northland. Solar IV is one of the largest widely syndicated Construction plus 18-year term loan bank deals completed in North America for a solar project transaction."
Under construction by H.B. White Canada Corp., a wholly-owned subsidiary of White Construction Inc., the solar projects will sell the electricity under Ontario's renewable energy Feed-in-Tariff (FIT) program, and are using Ontario-made equipment and local Ontario labour. The projects are located near Cochrane in Northern Ontario, and Burk's Falls near Huntsville. Commercial operations are expected to begin throughout 2014 and the first half of 2015.
To date, Northland has raised over $900 million in capital to fund renewable energy project development across Ontario. A commitment to producing clean and green energy has driven the company's strategy for over 25 years. As one of Ontario's first independent power producers, Northland developed its Kirkland Lake and Cochrane thermal facilities in the late 1980s and early 1990s to address the local forestry industry's waste wood issues.
In total, Northland has received 130 MW of FIT contracts for ground-mounted solar projects. Eight projects have already achieved commercial operation.
Northland is an independent power producer founded in 1987, and publicly traded since 1997. Northland develops, builds, owns and operates facilities that produce 'clean' (natural gas) and 'green' (wind, solar, and hydro) energy, providing sustainable long-term value to shareholders, stakeholders, and host communities.
The company owns or has a net economic interest in 1,349 MW of operating generating capacity, with an additional 110 MW (80 MW net to Northland) of generating capacity currently in construction, and another 150 MW (79 MW net to Northland) of wind and run-of-river hydro projects with awarded power contracts. In addition, Northland has acquired the rights to a majority equity stake in Gemini, a 600 MW off-shore wind project under development off the coast of the Netherlands in the North Sea. Northland's cash flows are diversified over five geographically separate regions and regulatory jurisdictions in Canada, Europe and the United States.
Northland's common shares, Series 1 and Series 3 preferred shares and convertible debentures trade on the Toronto Stock Exchange under the symbols NPI, NPI.PR.A, NPI.PR.C, NPI.DB.A and NPI.DB.B, respectively.
Wearable devices have come of age. The primary applications of wearables so far have been "the Quantified Self" or the tracking of one's fitness and health status. We propose the evolution of wearables into social and emotional communication devices. Our BE(tm) sensor uses light to visualize the skin conductance response. Our sensors are very inexpensive and can be massively distributed to audiences or groups of any size, in order to gauge reactions to performances, video, or any kind of present...
Mar. 1, 2015 12:00 AM EST Reads: 2,926
SYS-CON Events announced today that GENBAND, a leading developer of real time communications software solutions, has been named “Silver Sponsor” of SYS-CON's WebRTC Summit, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. The GENBAND team will be on hand to demonstrate their newest product, Kandy. Kandy is a communications Platform-as-a-Service (PaaS) that enables companies to seamlessly integrate more human communications into their Web and mobile applicatio...
Feb. 28, 2015 05:00 PM EST Reads: 1,348
VictorOps is making on-call suck less with the only collaborative alert management platform on the market. With easy on-call scheduling management, a real-time incident timeline that gives you contextual relevance around your alerts and powerful reporting features that make post-mortems more effective, VictorOps helps your IT/DevOps team solve problems faster.
Feb. 28, 2015 05:00 PM EST Reads: 1,156
Skeuomorphism usually means retaining existing design cues in something new that doesn’t actually need them. However, the concept of skeuomorphism can be thought of as relating more broadly to applying existing patterns to new technologies that, in fact, cry out for new approaches. In his session at DevOps Summit, Gordon Haff, Senior Cloud Strategy Marketing and Evangelism Manager at Red Hat, will discuss why containers should be paired with new architectural practices such as microservices ra...
Feb. 28, 2015 04:00 PM EST Reads: 1,380
Roberto Medrano, Executive Vice President at SOA Software, had reached 30,000 page views on his home page - http://RobertoMedrano.SYS-CON.com/ - on the SYS-CON family of online magazines, which includes Cloud Computing Journal, Internet of Things Journal, Big Data Journal, and SOA World Magazine. He is a recognized executive in the information technology fields of SOA, internet security, governance, and compliance. He has extensive experience with both start-ups and large companies, having been ...
Feb. 28, 2015 04:00 PM EST Reads: 1,101
Companies today struggle to manage the types and volume of data their customers and employees generate and use every day. With billions of requests daily, operational consistency can be elusive. In his session at Big Data Expo, Dave McCrory, CTO at Basho Technologies, will explore how a distributed systems solution, such as NoSQL, can give organizations the consistency and availability necessary to succeed with on-demand data, offering high availability at massive scale.
Feb. 28, 2015 03:45 PM EST Reads: 2,208
From telemedicine to smart cars, digital homes and industrial monitoring, the explosive growth of IoT has created exciting new business opportunities for real time calls and messaging. In his session at @ThingsExpo, Ivelin Ivanov, CEO and Co-Founder of Telestax, shared some of the new revenue sources that IoT created for Restcomm – the open source telephony platform from Telestax. Ivelin Ivanov is a technology entrepreneur who founded Mobicents, an Open Source VoIP Platform, to help create, de...
Feb. 28, 2015 03:30 PM EST Reads: 3,982
The industrial software market has treated data with the mentality of “collect everything now, worry about how to use it later.” We now find ourselves buried in data, with the pervasive connectivity of the (Industrial) Internet of Things only piling on more numbers. There’s too much data and not enough information. In his session at @ThingsExpo, Bob Gates, Global Marketing Director, GE’s Intelligent Platforms business, to discuss how realizing the power of IoT, software developers are now focu...
Feb. 28, 2015 03:15 PM EST Reads: 1,245
Security can create serious friction for DevOps processes. We've come up with an approach to alleviate the friction and provide security value to DevOps teams. In her session at DevOps Summit, Shannon Lietz, Senior Manager of DevSecOps at Intuit, will discuss how DevSecOps got started and how it has evolved. Shannon Lietz has over two decades of experience pursuing next generation security solutions. She is currently the DevSecOps Leader for Intuit where she is responsible for setting and driv...
Feb. 28, 2015 03:00 PM EST Reads: 2,161
Operational Hadoop and the Lambda Architecture for Streaming Data Apache Hadoop is emerging as a distributed platform for handling large and fast incoming streams of data. Predictive maintenance, supply chain optimization, and Internet-of-Things analysis are examples where Hadoop provides the scalable storage, processing, and analytics platform to gain meaningful insights from granular data that is typically only valuable from a large-scale, aggregate view. One architecture useful for capturing...
Feb. 28, 2015 02:00 PM EST Reads: 1,219
SYS-CON Events announced today that Vitria Technology, Inc. will exhibit at SYS-CON’s @ThingsExpo, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. Vitria will showcase the company’s new IoT Analytics Platform through live demonstrations at booth #330. Vitria’s IoT Analytics Platform, fully integrated and powered by an operational intelligence engine, enables customers to rapidly build and operationalize advanced analytics to deliver timely business outcomes ...
Feb. 28, 2015 01:45 PM EST Reads: 1,148
DevOps is about increasing efficiency, but nothing is more inefficient than building the same application twice. However, this is a routine occurrence with enterprise applications that need both a rich desktop web interface and strong mobile support. With recent technological advances from Isomorphic Software and others, it is now feasible to create a rich desktop and tuned mobile experience with a single codebase, without compromising performance or usability.
Feb. 28, 2015 01:15 PM EST Reads: 1,031
Thanks to Docker, it becomes very easy to leverage containers to build, ship, and run any Linux application on any kind of infrastructure. Docker is particularly helpful for microservice architectures because their successful implementation relies on a fast, efficient deployment mechanism – which is precisely one of the features of Docker. Microservice architectures are therefore becoming more popular, and are increasingly seen as an interesting option even for smaller projects, instead of bein...
Feb. 28, 2015 01:15 PM EST Reads: 2,394
SYS-CON Events announced today Arista Networks will exhibit at SYS-CON's DevOps Summit 2015 New York, which will take place June 9-11, 2015, at the Javits Center in New York City, NY. Arista Networks was founded to deliver software-driven cloud networking solutions for large data center and computing environments. Arista’s award-winning 10/40/100GbE switches redefine scalability, robustness, and price-performance, with over 3,000 customers and more than three million cloud networking ports depl...
Feb. 28, 2015 01:00 PM EST Reads: 1,497
Application metrics, logs, and business KPIs are a goldmine. It’s easy to get started with the ELK stack (Elasticsearch, Logstash and Kibana) – you can see lots of people coming up with impressive dashboards, in less than a day, with no previous experience. Going from proof-of-concept to production tends to be a bit more difficult, unfortunately, and it tends to gobble up our attention, time, and money. In his session at DevOps Summit, Otis Gospodnetić, co-author of Lucene in Action and founder...
Feb. 28, 2015 01:00 PM EST Reads: 1,266