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Northland Power anticipates a 16-32% increase in adjusted EBITDA in 2026, driven by two offshore wind farms. The company reported 2023 adjusted EBITDA of CAD 1.25bn ($912m) and a net loss of $79m due to impairment charges.

Construction of the Hai Long offshore wind project is halfway complete, with commercial operations expected in 2027. Northland Power aims for 7GW of capacity by 2030 and currently holds interests in 3.5GW of generating capacity.