Pattern Energy Contemplates 50% Stake in Ontario Wind Facility

wind turbine

Pattern Energy Group Inc. (NASDAQ: PEGI) announced it is in discussions to acquire a 50 percent interest in an Ontario wind farm from Pattern Energy Group LP (Pattern Development).

Pattern Energy said it may buy a 90-MW stake in the 180-MW Armow Wind facility and intends to fund the acquisition with available liquidity from its recent equity offering. The deal is expected to close within the next 30 to 45 days.

The Armow Wind plant is jointly owned by Pattern Development and Samsung Renewable Energy Inc. The plant began commercial operation in December 2015 and operates under a 20-year power purchase agreement with the Independent Electricity System Operator (IESO).

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now


Making DDoS Mitigation Part of Your Incident Response Plan: Critical Steps and Best Practices

Like a new virulent strain of flu, the impact of a distributed denial of service (DDoS) attack is...

The Multi-Tax Challenge of Managing Excise Tax and Sales Tax

To be able to accurately calculate multiple tax types, companies must be prepared to continually ...

Operational Analytics in the Power Industry

Cloud computing, smart grids, and other technologies are changing transmission and distribution. ...

Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...