Pattern acquires projects totalling 351MW

UNITED STATES: Pattern Energy has purchased stakes in two wind projects in Kansas and Missouri from Wind Capital Group with a combined capacity of 351MW.

by David Weston 18 May 2015

The Post Rock Wind site was commissioned in 2012 (pic: Westar Energy)

Pattern has agreed a final purchase price of $242 million plus assumed net debt of $102 million for the projects. The sale was first announced in April.

The power firm has acquired assets in the 201MW Post Rock Wind project in Kansas and the 150MW Lost Creek site in Missouri. They were commissioned in 2012 and 2010, respectively.

Pattern said it "expects to maintain" a combined total interest of 270MW in the two projects. According to “uåX˜äŠÊ˜·³Ç Intelligence, the data division of “uåX˜äŠÊ˜·³Ç, Post Rock is also part owned by GE, MetLife insurance firm and Union Bank.

Both projects have full 20-year power purchase agreements and are powered by GE 1.5MW turbines.

The acquisition of the sites means Pattern has expanded its operations into two more states.

 

 

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“uåX˜äŠÊ˜·³Ç Wind Resource Assessment Forum, 17-18 June 2015, Houston, Texas