Pattern Development buys 200-MW wind scheme in Texas
Aug 5, 2014 - US company Pattern Energy Group LP, also known as Pattern Development, said today it had bought the 200-MW Logan's Gap wind project in Texas from developer Pioneer Green Energy.
The value of the transaction was not revealed.
Pattern Development noted it expects to secure construction financing and to begin building the facility in the final quarter of the year. The facility is seen to commence commercial operations in late 2015.
The Logan's Gap wind park will be linked to Oncor Electric Delivery Co’s 138-kV Comanche-Zephyr line that supplies power to the Dallas‐Fort Worth area. In 2013, Pioneer Green Energy inked a 10-year power purchase agreement (PPA) with retailer Wal-Mart Stores Inc (NYSE:WMT) for 60% of the wind farm’s projected output.
The buyer operates wind parks via Pattern Energy Group Inc (NASDAQ:PEGI), which has now added the Logan's Gap scheme to its right-of-first-offer (ROFO) pipeline.