Pattern Energy negotiating buy of Armow Wind power facility

Pattern Energy Group Inc (TSX: PEG) said it is in discussions to acquire a 90 megawatt interest in the 180 megawatt Armow Wind power facility from Pattern Development. No financial terms were released for the deal, which is expected to close within the next 30 to 45 days. The facility, located near Kincardine, Ontario, is jointly owned by Pattern Development and Samsung Renewable Energy Inc. It reached commercial operation in December 2015. Pattern Energy Group LP, Pattern Energy’s main shareholder, is backed by U.S. private equity firm Riverstone Holdings.

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