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  • Pattern Energy buying interest in Armow Wind facility +

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Pattern Energy buying interest in Armow Wind facility

Pattern Energy Group Inc. is paying US$132 million for an interest in the Armow Wind energy plant. The money is going to its Canadian development company Pattern Energy Group LP (or Pattern Development).

As a result of the transaction (expected to close in 45 days), the Amrow Wind facility will be jointly owned by Pattern Energy and Samsung Renewable Energy Inc. Amrow reached commercial operation in December 2015 and operates under a 20-year power purchase agreement with the Independent Electricity System Operator in Ontario.

Located in Kincardine, Ontario, Armow Wind consists of 91 Siemens 2.3 MW wind turbines. The facility generates enough clean energy to power approximately 70,000 homes each year, based on annual residential energy use in Ontario.

Pattern Energy has rights of first offer to Pattern Development's project development pipeline, which includes approximately 5,900 MW of wind and solar projects.