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


The Time is Right for Optimum Reliability: Capital-Intensive Industries and Asset Performance Management

Imagine a plant that is no longer at risk of a random shutdown. Imagine not worrying about losing...

Going Digital: The New Normal in Oil & Gas

In this whitepaper you will learn how Keystone Engineering, ONGC, and Saipem are using software t...

Maximizing Operational Excellence

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

Leveraging the Power of Information in the Energy Industry

Information Governance is about more than compliance. It’s about using your information to drive ...