Pattern Energy adds six projects to ROFO list

Pattern Energy acquires two projects

Pattern Energy has added four wind power and two solar photovoltaic projects to its Right of First Offer (ROFO) list.

The six projects have total installed capacity of 723 megawatts (MW). And their inclusion takes the total owned interest of Pattern Energy on the list to 526 MW.

Also, the new entrants expand Pattern Energy’s list to include projects in New Mexico (398 MW) and Japan (128 MW). Already Pattern Energy has projects spread across Chile, Japan, four provinces of Canada, Puerto Rico and seven US states.

Mike Garland, the president and CEO of Pattern Energy, has stated that the plant from New Mexico included in the ROFO list is a large-scale, multiple-phase project. And the five Japanese projects, including two solar projects, in the list “demonstrate a growing partnership the company has with GPI in Japan”.

Pattern Development recently expanded its project pipeline to 5,900 MW.
Pattern_Energy_ROFO_Addition

Last month Pattern Energy acquired 150-megawatt Amazon Wind Farm (Fowler Ridge) project in Benton County, Indiana, from Pattern Development.

The project is expected to start generating power in the fourth quarter of 2015.

It has 65 Siemens 2.3-MW wind turbines and Pattern Energy will own 116 MW interest in the project.

The company has spent $127 million for the acquisition, part of which is to be used to repay debt accrued from construction.

Pattern Energy has signed a 13-year power purchase agreement — likely to be extended to 20 years — with Amazon to evacuate the entire output from the project.

Ajith Kumar S

editor@greentechlead.com