Northland Power Inc. · TSX:NPI
Northland Power — Investor Presentation (September 2024)
34 slides from Northland Power's investor presentation, September 2024
Slide 1: Investor Presentation September 2024
Investor Presentation September 2024 Nordsee One, North Sea
Slide 2: Forward Looking Statements
Investor Relations: Public Forward Looking Statements This written and accompanying oral presentation contains certain forward-looking statements and information within the meaning of Canadian securities laws concerning the business and operations of Northland Power Inc. and are provided for the pur
Slide 3: Reporting of Non-IFRS Financial Measures
Investor Relations: Public Reporting of Non-IFRS Financial Measures This investor presentation includes references to Northland’s Adjusted EBITDA, Adjusted Free Cash Flow and Free Cash Flow and applicable payout ratios and per share amounts, which are measures not prescribed by International Financi
Slide 4: Northland Overview
Investor Relations: Public Northland Overview Northland Overview 36+ 1,344 ~16yrs Years of success Weighted average Employees1 contracted revenue life2 Onshore Renewables 2.4 GWUnder 3.2 GW 90%+ Contracted revenue construction3 In operations3 Natural Gas & Utilities 722 MW of natural gas across four
Slide 5: Global Footprint
Investor Relations: Public Global Footprint Operating Assets (Gross) 1.2 GW 1.3 GW Offshore Wind Onshore Wind/Solar 0.7 GW Natural Gas Assets under Construction (Gross) Canada: Colombia: Spain: • Operating: 1,246 MW • Operating Utility • Operating: 559 MW • Construction: 250 MW • Operating: 16 MW Ta
Slide 6: Significant Construction Pipeline Growth Secured Financial Growth
Investor Relations: Public Significant Construction Pipeline Growth Secured Financial Growth 2.4 GW of growth Investment grade balance sheet with fully funded secured through 2027 Including construction program Construction 1,140 MW Projects ~6.0 GW1 1,022 2 MW Adjusted EBITDA Baltic 250 MW Power 7-
Slide 7: Leadership Team
Investor Relations: Public Leadership Team John Brace - Interim Executive Chair • Mr. Brace has been with Northland for more than 35 years (since 1988) holding various positions in risk management, development, construction and operations. • Served as Northland’s CEO from 2003 until his retirement i
Slide 8: Growth Markets
Investor Relations: Public Growth Markets Priority Markets Canada Offshore Taiwan Wind Poland South Scotland Korea Scotland 9 GW (Excl. 2.4 GW of projects under construction) Onshore Development Renewables Ontario New York Alberta US Pipeline South Korea Poland Natural Gas & Utilities Canada Colombi
Slide 9: Construction Progress Milestones
Investor Relations: Public Construction Progress Milestones Hai Long Baltic Power Oneida 1GW Offshore Wind, Taiwan 1.1GW Offshore Wind, Poland 250MW Battery Storage, Canada Executed Revenue Contract Executed EPC Construction Contracts Executed Financing Starts In-water Construction 2024 N/A Battery
Slide 10: Hai Long & Baltic Power Construction Milestones & Status
Investor Relations: Public Hai Long & Baltic Power Construction Milestones & Status Fully-funded1 construction program with first power expected for Hai Long in H2 2025 and H1 2026 for Baltic Power Hai Long • First turbine installation • First foundation installation • Offshore substation • Offshore
Slide 11: Hai Long (1.0 GW)
Investor Relations: Public Hai Long (1.0 GW)1 • Stable revenue through 20-year FIT and 30-year Corporate Power Purchase Agreement with S&P AA- rated counterparty • Construction is fully funded, with long-term non-recourse project financing secured • Material contribution to Northland’s Adjusted EBIT
Slide 12: Construction Highlights (On Track)
Investor Relations: Public Construction Highlights (On Track) Turbines 8 Offshore Grid Onshore Substation 5 Substation Substation 1 6 Onshore cables 2 7 Foundations Offshore export cables 3 Inter Array Cables 4 Onshore Onshore 2 Export 3 Inter Array Cable 4 Turbines 8 1 Substation cables cables Fabr
Slide 13: Baltic Power (1.1 GW)
Investor Relations: Public Baltic Power (1.1 GW)1 • Construction is fully funded and long-term project financing with 25 financial Baltic Power institutions is secured • Stable cash flow from 25-year Contract for Differences (CfD) revenue contract that has indexation based on the Polish CPI commenci
Slide 14: Construction Highlights (On Track)
Investor Relations: Public Construction Highlights (On Track) Turbines 8 Offshore 5 Grid Onshore 1 Substation Substation Substation 6 7 Foundations Onshore cables 2 Offshore export cables 3 Inter Array Cables 4 Onshore Onshore 2 Export 3 Inter Array Cable 4 Turbines 8 1 Substation cables cables Fabr
Slide 15: Oneida (250 MW)
Investor Relations: Public Oneida (250 MW)1 • 250 MW (4-hour duration) Lithium-Ion Battery Storage in Oneida Southwestern Ontario Battery • Largest battery storage project in Canada and one of the largest in Storage North America • 20-year capacity contract with the IESO • Strong group of equity par
Slide 16: Construction Highlights (On Track)
Investor Relations: Public Construction Highlights (On Track) Grid Substation 1 2 5 MV Transformers Battery Packs Concrete Foundations 4 Cables 3 Grid 1 Transformer 2 Cables 3 Battery 4 Substation Conduit currently being Foundations Delivery of 70 x Medium installed, and cabling 2 x High-voltage Eac
Slide 17: Significant Adjusted EBITDA Growth
Investor Relations: Public Significant Adjusted EBITDA Growth1 Fully funded incremental growth starting in 2025 ~7-10% CAGR ~$1.6-1.8B ~$1.2-1.3B Growth Full year contribution Contribution from Hai Long, Baltic Power, and Oneida in 2027 Contribution from Oneida COD in 2025, Hai Long PCR starting in
Slide 18: Adjusted EBITDA Diversification by Technology & Geography
Investor Relations: Public Adjusted EBITDA1 Diversification by Technology & Geography By 2027, cash flow growth will diversify across more regions providing higher quality and stability 2023A Adjusted EBITDA 2027F Adjusted EBITDA Utility ~9% Other2 ~8% Efficient Natural Gas North Sea Utility ~8% ~11
Slide 19: Northland Power Investor Relations
Northland Power Dario Neimarlija, Vice President of 30 St. Clair Avenue West, Email: investorrelations@northlandpower.com FP&A and Investor Relations 3rd Floor Website: northlandpower.com 647.288.1019 Toronto, ON Canada M4V 3A1
Slide 20: Appendix
Investor Relations: Public Appendix Northland Power 2022 Investor Day 20
Slide 21: Hai Long
Investor Relations: Public Hai Long Official launch of the Siemens Gamesa nacelle factory production line Photo credit: Siemens Gamesa 21
Slide 22: Hai Long
Investor Relations: Public Hai Long The Offshore Substation is now remotely operated from onshore and stands ready to be connected to the export cable and energized. Offshore substation 22
Slide 23: Hai Long
Investor Relations: Public Hai Long Load out of local pin piles 23
Slide 24: Hai Long
Investor Relations: Public Hai Long Picture of the Onshore substation, 2024 24
Slide 25: Hai Long
Investor Relations: Public Hai Long Installation of jackets, September 2024 Photo credit: CDWE 25
Slide 26: Hai Long
Investor Relations: Public Hai Long Local jacket fabrication underway 26
Slide 27: Baltic Power
Baltic Power Onshore Substation, September 2024
Slide 28: Baltic Power
Investor Relations: Public Baltic Power Fabrication of key components underway 28
Slide 29: Baltic Power
Investor Relations: Public Baltic Power Operations & Maintenance Base (April 2024) 29
Slide 30: Baltic Power
Investor Relations: Public Baltic Power Transition pieces being shipped out from Spain 30
Slide 31: Oneida
Investor Relations: Public Oneida High voltage transformers arrived at the Hamilton harbor 31
Slide 32: Oneida – Tesla Megapack Example
Investor Relations: Public Oneida – Tesla 1 Megapack 2 Example 1. Vents and fans 2. Inverter 2 3. Colling panel 3 4. Battery module 5. Customer panel 5 4 32
Slide 33: Oneida – Aerial View
Oneida – Aerial View
Slide 34: Oneida
Oneida Megapacks on Foundations, June 2024
Northland Power — Investor Presentation (September 2024) on 6ix