Northland's $205m Cash Windfall from Mexican Solar Farm Sale

• Northland Power sheds light on strategic move, selling La Lucha solar plant in Mexico for $205 million to Cometa Energia

Northland Power has agreed to sell its 130MW solar plant in Mexico, La Lucha, to Cometa Energia for $205 million in cash. The plant, located in Durango, has been operational since June 2023. The sale is expected to close in 2024 pending approval from various regulatory bodies.

The proceeds from the sale will be used to repay debts and for general corporate purposes. Northland Power's president and CEO, Mike Crawley, stated that the sale is part of the company's strategy to focus on core markets and generate liquidity by divesting assets in non-core markets.

Why is Northland Power selling its 130MW solar plant in Mexico?

• Northland Power is selling its 130MW solar plant in Mexico to Cometa Energia for $205 million in cash.
• The plant, La Lucha, located in Durango, has been operational since June 2023.
• The sale is expected to close in 2024 pending approval from various regulatory bodies.
• The proceeds from the sale will be used to repay debts and for general corporate purposes.
• Northland Power's president and CEO, Mike Crawley, stated that the sale is part of the company's strategy to focus on core markets and generate liquidity by divesting assets in non-core markets.