Pattern Energy buys 200MW Logan’s Gap Wind project in Texas, US

23 December 2014 (Last Updated December 23rd, 2014 18:30)

Pattern Energy has acquired the 200MW Logan's Gap Wind project from Pattern Development for $113m in Texas, US.

Pattern Energy has acquired the 200MW Logan’s Gap Wind project from Pattern Development for $113m in Texas, US.

The acquisition boosts Pattern Energy’s owned capacity by 11% to 1,636MW with 12 wind projects across the US, Canada, and Chile.

The project is under construction at Comanche County in Texas, and will be equipped with 87 Siemens 2.3MW wind turbines.

Three institutional tax equity investors will acquire 36MW of the generated power from the project on its completion, while Pattern Energy will have an owned interest of 164MW.

"Once operational, the project will have a yearly generation to power 50,000 homes in Texas."

Once operational, the project will have a yearly generation to power 50,000 homes in Texas.

The project will be connected to Oncor’s 138kV Comanche-Zephyr line which crosses the site to deliver power for the Dallas-Fort Worth area.

Long-term power purchase agreements for 75% generation from the project have been signed, which includes a ten-year agreement with Walmart for 58% of expected output.

Pattern Energy CEO Mike Garland said: "We are pioneering new markets for the sale of our electricity to leading corporations like Walmart, who are pursuing clean energy for their businesses.

"Pattern Development has more than 30 projects in development at any given time, providing a broad and deep resource for our continued growth and the potential of accelerated drop downs.

"Our outlook for future acquisitions is better than we have ever seen, as Pattern Development has recently added more projects to its development pipeline through third-party acquisitions."