Northland Power sells 130-MW solar farm in Mexico

• Northland Power Inc. sells La Lucha solar park in Mexico, focusing on core markets and capital recycling. Milestone achievement for the Canadian power producer.

Canadian power producer Northland Power Inc has completed the sale of its 130-MW La Lucha solar park in Mexico to Cometa Energia SA de CV, a subsidiary of Saavi Energia. The financial details of the transaction were not disclosed, but Northland expects to receive about USD 205 million in cash after taxes and fees. The funds raised will be used to repay debt and for general corporate purposes.

The sale of the solar farm is part of Northland's strategy to focus on its core markets, simplify its business structure, and recycle capital. The La Lucha PV park has been generating electricity since June last year, and the divestment marks a significant milestone for the company in Mexico.

What is Northland Power Inc's strategy behind selling La Lucha solar park in Mexico?

• Northland Power Inc's strategy behind selling La Lucha solar park in Mexico is to focus on its core markets and simplify its business structure.
  
• The sale of the solar farm is also part of Northland's strategy to recycle capital and use the funds raised to repay debt and for general corporate purposes.
• The La Lucha PV park has been generating electricity since June last year, and the divestment marks a significant milestone for the company in Mexico.