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Article: Canada: Northland to build gas-fired power plant in Saskatchewan, raise $120 million.
- Article from:
- TendersInfo
- Article date:
- September 26, 2009
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Northland Power Income Fund (TSX:NPI.UN) said Thursday it will spend $145 million to build a natural-gas fired power plant in Saskatchewan.
The income trust said it has signed a 25-year power purchase agreement with Saskatchewan Power Corp. to provide peaking power.
The 86-megawatt plant will be built near Spy Hill, Sask., about 200 kilometres east of Regina. Construction is expected to begin in June 2010 with commercial operations to begin no later than Dec. 1, 2011.
To pay for the new plant, Northland Power said it would raise $120 million in an offering of trust units and convertible debentures.
The fund said it has signed a deal ...