Pattern Energy to buy stake in Armow Wind facility for $132 mln
Pattern Energy Group Inc (TSX: PEG) has agreed to acquire a 90 megawatt interest in the 180 megawatt Armow Wind power facility from Pattern Development for about US$132 million. The deal is expected to close within 45 days. The facility, located in Kincardine, Ontario, reached commercial operation in December 2015. With the deal's closing, it will be jointly owned by Pattern Energy and Samsung Renewable Energy Inc. Pattern Energy Group LP, Pattern Energy’s main shareholder, is backed by U.S. private equity firm Riverstone Holdings.
22 September 2016•4 mins read
