Pattern Energy acquires Texas wind project

Pattern Energy Gulf Wind Farm in Armstrong, Texas PEPWR

Pattern Energy Group Inc. has acquired the 200-MW Logan’s Gap Wind project in Comanche County, Texas, for a total cash funding commitment of approximately $113 million.  

Upon completion, power output will be sold to Walmart (58 percent) under a 10- year agreement; and a financial institution (17 percent) under a 13-year fixed price agreement. The remaining 25 percent will be sold at ERCOT spot market prices.

Logan’s Gap Wind will feature 87 Siemens (NYSE: SI) 2.3-MW wind turbines.

Pattern Development expects to begin full construction on the project in the fourth quarter of 2014.  The project is in ERCOT’s North Zone and will connect to Oncor’s 138kV Comanche-Zephyr line, which crosses the project site and supplies power to the Dallas-Fort Worth area.  The project is expected to begin commercial operation in late 2015.

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