August 15, 2011 / 11:13 AM / in 6 years

UPDATE 1-Northland Power Q2 loss narrows

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Aug 15 (Reuters) - Clean energy developer Northland Power Inc reported a narrower quarterly loss and said commercial operations at its Mont Louis project in Quebec are expected to start by end of the third quarter.

The company, which is developing a 60-megawatt wind farm in northern Ontario, expects 2011 EBITDA to rise 160-190 percent to C$360-C$400 million.

For the April-June quarter, net loss was C$23.6 million, compared with a net loss of C$36.9 million, a year ago.

Sales rose 3 percent to C$80.2 million.

Northland owns or has an economic interest in nine power projects that generate more than 1,050 MW of power from solar, wind, biomass and natural-gas-fired plants.

The company also said commercial operations at its Spy Hill project are expected early in the fourth quarter.

Shares of the company closed at C$16.08 on Friday on the Toronto Stock Exchange. (Reporting by Bhaswati Mukhopadhyay in Bangalore; Editing by Viraj Nair)

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