200-MW Texas Wind Energy Plant Begins Operations

Pattern Energy Group owns 164-MW of the Logan’s Gap Wind facility, and four institutional tax equity investors own the remainder.

A 200-MW wind energy farm in Texas completed construction and is now fully operational.
 
Pattern Energy Group (Nasdaq: PEGI) owns 164-MW of the Logan’s Gap Wind facility, and four institutional tax equity investors own the remainder. Walmart has a 10-year power purchase agreement to acquire 58 percent of the output from the facility, and a financial institution will buy 17 percent of the output under a 13-year fixed price agreement. The remaining 25 percent of the output will be sold at ERCOT spot market prices.
 
Up to 550 workers were on site during peak activity, and there are 12 full-time permanent workers to operate and maintain the site. The plant uses 87 Siemens (NYSE: SI) 2.3-MW turbines. The plant connects to Oncor’s Comanche-Zephyr line, which crosses the facility site and supplies power to the Dallas-Fort Worth area.
 
Pattern Energy acquired the plant from Pattern Energy Group LP in December 2014. Pattern Energy has rights of first offer to Pattern Development’s project development pipeline, which totals more than 5,900 MW.



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