26 Dec '14, 1pm

Pattern Energy acquires Logan’s Gap Wind project in Texas: Addition brings Pattern Energy's portfolio to 12 wi...

Pattern Energy has acquired the 200 MW Logan’s Gap Wind project in Texas, which is currently under construction, from Pattern Energy Group LP (“Pattern Development”). Upon completion of the project, Pattern Energy will have an owned interest of 164 MW and three institutional tax equity investors will acquire the balance. “We are pioneering new markets for the sale of our electricity to leading corporations like Walmart who are pursuing clean energy for their businesses,” said Mike Garland, CEO of Pattern Energy. “This project, which was only recently added to our right of first offer (ROFO) list, demonstrates that our team can move fast to create value when opportunities arise." Following construction, the project is structured to be financed with all equity and not with project debt. Pattern Energy acquired the Logan’s Gap Wind project for a total cash funding commitment ...

Full article: http://www.renewableenergyfocus.com/view/40968/pattern-en...

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