Riverstone's Pattern Energy to buy Ontario's K2 Wind facility

Pattern Energy Group Inc (TSX: PEG) has agreed to buy three wind power facilities for a total purchase price of US$372 million, together with the assumption of US$320 million in net debt and certain tax equity non-controlling interests. The acquisition includes 90 megawatts of the K2 Wind Power Project located in the Ontario township of Ashfield-Colborne-Wawanosh. The company will assumed a 33 percent equity interest in the facility after acquiring it from Pattern Development for US$128 million plus debt. Pattern Energy Group LP, Pattern Energy's main shareholder, is backed by U.S. private equity firm Riverstone Holdings.

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