Northland Power Inc. has closed the sale of its 66.7% interest in the Frampton Wind Farm to Boralex Inc. The remaining 33.3% of the 24MW advanced stage development project is owned by the host municipality of Frampton, Quebec. Upon closing, Northland received consideration of approximately $11.5 million for its interest in the project.
The sale enables Northland to realize the project's economic returns at an earlier stage and focus its resources on other larger scale development and construction projects. Northland will use the proceeds for general corporate purposes, and to fund a portion of its investments in Nordsee One and the Grand Bend Wind Farm.