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June 26, 2014
08:46 EDTPEGIPattern Energy acquires controlling interest in El Arrayan wind project in Chile
Pattern Energy Group acquired AEI's 38.5% net ownership interest in the El Array Wind project. The project, which was completed earlier this month and is now fully operational, is located approximately 400 km north of Santiago on the coast of Chile. At 115 MW, El Array Wind is the largest wind power facility in Chile and all of South America. The transaction increases Pattern Energy's ownership in El Array Wind to 70% with Antofagasta Minerals SA owning the remaining 30% minority stake. Pattern Energy paid a $45.25M purchase price to AEI. AEI's proportional share of project debt. Pattern Energy operates the project.
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September 28, 2015
07:02 EDTPEGIPattern Energy's 200 MW Logan's Gap wind facility starts operation
Pattern Energy announced that its 200 megawatt Logan's Gap Wind facility in Comanche County, Texas, has completed construction and is fully operational. Pattern Energy has an owned interest of 164 MW in the facility and four institutional tax equity investors have acquired the balance. The facility is financed with all equity rather than project debt. The facility will sell 75% of the electricity produced to Walmart and a financial institution. Walmart has a 10-year power purchase agreement to acquire 58% of the expected output from the facility. Seventeen percent of the expected output will be sold under a 13-year fixed price agreement with a A-/Baa2-rated financial institution. The remaining 25% of expected output will be sold at ERCOT spot market prices. An average of 250 workers were on site during construction with up to 550 workers on site during peak activity. There are 12 full-time permanent workers to operate and maintain the facility. Consisting of 87 Siemens 2.3 MW wind turbines, with a total capacity of 200 MW, Logan's Gap Wind will create enough clean energy to power 50,000 homes in Texas each year, according to average annual residential energy use data from the U.S. Energy Information Administration.

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