Pattern Energy Buying Panhandle 2 Wind Farm for $123.8 Million

Nov. 12 (Bloomberg) — Pattern Energy Group Inc. is buying
a Texas wind farm from affiliated Pattern Energy Group LP for
$123.8 million.

With the acquisition of the 182-megawatt project in Carson
County, Pattern now owns 11 wind farms with a total capacity of
almost 1.5 gigawatts, including the adjacent 172-megawatt
Panhandle 1 project bought earlier this year, according to a
statement today. Terms weren’t disclosed.

Panhandle 2 uses 79 2.3-megawatt Siemens AG turbines. The
wind farm is contracted to sell about 80 percent of its output
to an affiliate of Morgan Stanley as a longterm price hedge,
with the balance selling at spot-market prices.

To contact the reporter on this story:
Justin Doom in New York at
jdoom1@bloomberg.net

To contact the editors responsible for this story:
Reed Landberg at
landberg@bloomberg.net
Alex Devine

About BloombergNEF

BloombergNEF (BNEF) is a strategic research provider covering global commodity markets and the disruptive technologies driving the transition to a low-carbon economy. Our expert coverage assesses pathways for the power, transport, industry, buildings and agriculture sectors to adapt to the energy transition. We help commodity trading, corporate strategy, finance and policy professionals navigate change and generate opportunities.
 
Sign up for our free monthly newsletter →

Want to learn how we help our clients put it all together? Contact us