Northland Power Taps Brookfield Veteran for Board to Steer Global Growth

TORONTO, ON – March 25, 2026 – Northland Power Inc. has appointed Bahir Manios, a seasoned asset management executive and former Chief Financial Officer of Brookfield Asset Management, to its Board of Directors. The move, which expands the board to eleven members, is a clear signal of the global power producer’s intent to bolster its financial and strategic capabilities as it navigates an ambitious and capital-intensive growth phase.

Manios joins the board at a pivotal moment for Northland. The company is deeply invested in the global energy transition, with a portfolio of offshore wind, solar, and energy storage projects that are critical to its long-term strategy. His appointment brings over two decades of senior leadership experience in asset management and North American capital markets, particularly in the infrastructure sector where he played a foundational role at Brookfield.

“We are pleased to welcome Bahir, whose depth of experience will be an asset to Northland as we continue to execute our long-term growth strategy,” said Ian Pearce, Chair of Northland’s Board, in a statement announcing the appointment.

A Strategic Play for Global Expansion

Northland Power has set an aggressive target to more than double its gross operating capacity to over 7 GW by 2030. This expansion is underpinned by several large-scale international projects that require sophisticated financing and expert oversight. Among these are two of the world's most significant offshore wind developments.

The company holds a 30.6% equity stake in the 1.0 GW Hai Long Offshore Wind Project in Taiwan, one of Asia's largest, which is slated for commercial operations in 2027. In Europe, Northland holds a 49% interest in Poland's 1.1 GW Baltic Power Offshore Wind Project, expected to come online in the second half of 2026. These multi-billion-dollar ventures highlight the scale of capital and execution expertise required to compete in the global renewables market.

The addition of Manios is seen by industry observers as a strategic move to ensure the company has the board-level expertise to manage this complex growth trajectory. His direct experience in structuring and financing massive infrastructure projects is expected to provide invaluable guidance as Northland deploys billions in capital over the coming years.

The Brookfield Pedigree and Capital Discipline

Bahir Manios’s two-decade tenure at Brookfield Asset Management is central to his profile. Before retiring in June 2024 as the firm's Chief Financial Officer, he was instrumental in building its infrastructure business from the ground up. His leadership was a key component in establishing one of the world's most formidable infrastructure investment platforms.

During his time at Brookfield, Manios played a significant role in the firm's fundraising efforts, which successfully secured over $45 billion in private capital and $11 billion in equity for its infrastructure programs. This track record demonstrates a deep understanding of capital markets and the trust of institutional investors—a critical asset for a publicly traded company like Northland with significant capital needs.

Brookfield's investment philosophy, which Manios helped shape and execute, focuses on acquiring and operating high-quality, essential infrastructure assets that generate stable, long-term cash flows. This approach emphasizes rigorous financial discipline, active operational management, and a value-add strategy. Bringing this mindset into Northland’s boardroom is expected to enhance the company’s project selection process, risk management frameworks, and overall capital allocation strategy, ensuring a focus on long-term, sustainable returns.

Navigating a Dynamic and Volatile Energy Market

The appointment comes as the global energy sector experiences both unprecedented investment and significant volatility. While global investment in the energy transition reached a record $2.1 trillion in 2024, the pace of growth has slowed. Companies like Northland must navigate a landscape of supply chain pressures, fluctuating energy prices, and evolving government policies.

Northland’s own recent financial performance reflects this market dynamism. The company faced headwinds in 2025, including a significant non-cash impairment charge related to its North Sea One offshore wind asset, which led to a dividend adjustment. However, the company also demonstrated resilience, reporting robust financial results in the fourth quarter of 2025 that significantly surpassed earnings expectations, driven by strong performance from its offshore wind assets. This volatility underscores the need for seasoned leadership capable of steering the company through market cycles.

Manios’s experience managing vast and diversified asset portfolios through various economic conditions provides Northland with enhanced strategic oversight. His expertise is particularly relevant as the company balances its portfolio of stable, contracted assets with the development of new projects in emerging technologies like battery storage, as exemplified by its successful completion of the 250 MW Oneida Battery Storage Project in Canada.

A Well-Rounded Perspective on Infrastructure Investment

Since leaving Brookfield, Manios co-founded Genesis Financial Asset Management, a platform that takes a more opportunistic approach by investing in smaller, often overlooked public companies in the infrastructure and financial services sectors. This venture demonstrates his ability to identify value across different scales of investment, from the mega-deals characteristic of Brookfield to the niche opportunities targeted by Genesis.

This well-rounded perspective, combining large-scale institutional discipline with nimble, value-oriented investing, adds a unique dimension to Northland’s board. It equips the company with a director who understands not only how to build and finance massive projects but also how to identify strategic partnerships or M&A opportunities that may not be on the broader market's radar.

As Northland Power continues to execute its strategy in an increasingly competitive field, the addition of a director with Bahir Manios's credentials is a decisive step. It reinforces the company's commitment to financial rigor and strategic excellence, positioning it to better capitalize on the immense opportunities within the global energy transition.