Pattern Energy Group Inc. announced it will acquire interests in the 324-MW Broadview wind-power facility and associated independent 35-mile, 345-kV Western Interconnect transmission line from Pattern Energy Group for $269 million at commencement of commercial operations. Pattern Development has closed financing and is beginning construction on Broadview, which is located 30 miles north of Clovis, New…
Pattern Energy reports fourth quarter and year-end financial results for 2015
Pattern Energy Group announced its financial results for the 2015 fourth quarter and year. Highlights include (note: comparisons are made between fiscal 2015 and fiscal 2014 results, unless otherwise noted): ∙ Cash available for distribution (CAFD) of $92.4 million, up 49% ∙ Adjusted EBITDA of $250.5 million, up 26%. ∙ Proportional GWh sold of 5,137…
Pattern Energy reports Q2 2015 results
Pattern Energy Group recently announced its financial results for the second quarter of 2015. Highlights (Comparisons made between fiscal Q2 2015 and fiscal Q2 2014 results, unless otherwise noted) Cash available for distribution (CAFD) of $28.0 million, up 74% Adjusted EBITDA of $66.8 million, up 14% Proportional GWh sold of 1,202 GWh, up 56% Revenue of $84.7 million, up…
87 turbines, 200 MW added to Logan’s Gap Wind project
Siemens has been awarded another order from Pattern Energy Group LP (Pattern Development) to supply and install 87 SWT-2.3-108 wind turbines for the Logan’s Gap Wind project. The 200-MW project, located in Comanche County, Texas, will create enough clean energy to power about 50,000 homes in Texas annually. The SWT-2.3-108 turbines have a power rating…
Pattern Energy partners with Henvey Inlet Wind in 300 MW project
Pattern Energy Group LP has announced it has entered into a joint venture partnership with Henvey Inlet First Nation to jointly develop, own, and operate the 300 MW Henvey Inlet Wind project that will be built in Parry SoundDistrict, Ontario. Pattern Development will own a 50% joint venture interest in the project, which has a 20-year Power…
Siemens signs multiple 10-year wind service contracts in North America
Siemens has been awarded 10-year wind service agreements encompassing over 400 onshore wind turbines in the U.S., Canada, and Puerto Rico. The customer is Pattern Energy Group, based in San Francisco, Calif. Combined, the scope of these long-term contracts represents one of Siemens’ largest agreements with a single customer in North America. Pattern Energy is…
Milbank represents lenders in financing of Pattern Energy’s Panhandle Wind Project
Construction to begin on 218 MW wind farm project; deal is latest in series of major financings by Milbank for large U.S. renewable energy providers In its latest large project financing in the U.S. renewable energy sector, Milbank, Tweed, Hadley & McCloy LLP represented the lender group in funding the construction of a major new…