Northland Power has another press release

  On April 18, 2016 Northland Power gave another press release on the status of it's two big power projects,that is, Nordsee One and Gemini.This one gave investors an update on Nordsee One.These days their press releases are more impactful than their quarterly reports.This one told investors that the installation of the foundations for Nordsee One are six weeks ahead of schedule.It is still  on track to be commissioning power in early 2017.Northland Power told investors in their last press release that power would be pre-commissioned before the finish of the project.Presumably power could be sold to it's German partner RWE before their power contract comes into place in 2017.This information is contained in another post on Workathon dated March5,2016 click here to see about revenue from pre-commissioning.     

     
     Operational Details
  Nordsee One is a joint venture done with the huge German utility RWE which has a 15% interest in Nordsee One.The contractor here is a firm called GeoSea;it has installed the 54 (900 ton) foundations ahead of schedule.The next step is to work on the inter-array cables and the offshore substation.When finished it will supply about 400,000 German households.Northland will be able to send power to the onshore substation and then to RWE.In fact Northland has already sent power to it's onshore substation.This will allow it to collect some pre-completion revenues in 2016.
        Financial Results
 Northland Power will be showing it's quarterly results on May 11.The results will be slightly ahead of guidance and on track to have EBITDA increase from 2015 which was a good year for it.But the news that is important to investors is that both Nordsee One(332 MW) and Gemini (600 MW) will be in operation before expected.By mid 2017 (or maybe earlier) Northland will have about a 66-70% increase from present output and revenues.Pre-completion revenues are just the jam on the toast.See Workathon dated March 5,2016 for details on pre completion revenues.Once again this blog advises investors this period in 2016 is the time to buy Northland Power before it hits $25 a share,especially with the extra pre-completion revenues.         use Workathon for analysis of Cdn. utilities;    use Workathon on Blogger for details on utilities