Chicago, Illinois, March 27, 2001 Northland Power Inc., an independent power company, announced today that it has signed another joint venture partner, Midwest Power, LLC, to co-develop specific power projects in the United States.
Midwest Power, LLC is an experienced IPP developer with offices in the suburbs of Chicago, Illinois and Portland, Oregon. One of Midwest Power's members has an affiliate, PCI Management and Consulting Company, who has power project-related engineering and construction management capabilities. The senior managers of Midwest Power have developed in excess of 3,000 MW of peaking and combined-cycle power plants in the United States and abroad.
Northland Power is actively involved in developing power projects that meet the growing demand for independent electrical power facilities in the United States and abroad. These projects use a variety of energy sources including natural gas, biomass, hydro, and wind power, and typically range from 40 to 250 MW.
"Today's restructuring of electricity markets here in the US and around the globe has increased the demand for mid-sized power generating projects that can reliably meet customers needs", said James Temerty, Chief Executive Officer, Northland Power. "Partners, such as Midwest Power, are critical to our Joint Venture Partnership program which develops successful customer-oriented independent power facilities."
Northland Power's Joint Venture Partnership (JVP) program is an innovative approach that converts business opportunities in today's restructuring of electricity markets into profitable power projects. The JVP program allows highly motivated players in the power industry to combine their local knowledge and expertise with Northland Power's experience, engineering and financial resources, and provides them with substantial rewards including a significant financial interest in successfully completed projects. Under the program, Northland Power's development partners take the lead role on the project's front-end development activities. Upon completion of initial development milestones, Northland Power takes primary responsibility for the project, providing financing and covering the cost of detailed project development and implementation.
Northland Power is working in six countries around the world with more than 20 entrepreneurs participating in the program at various stages. In the United States, Northland Power is currently working with three partners to identify feasible projects and plans to partner with more in 2001.
Additional information on the JVP program is available on Northland Power's website at www.northlandpower.ca. Interested entrepreneurs can address specific inquiries to firstname.lastname@example.org.
Northland Power has extensive experience in the development, design, finance, ownership, operation and maintenance of independent power projects. Headquartered in Toronto, Canada, Northland Power is actively engaged in developing new capacity in North America and internationally. In addition to its development activities, Northland Power is responsible for the operation and maintenance of more than 1,000 MW of electric power and thermal projects in Canada and abroad.