Pattern Energy Group has closed the previously announced acquisition of two operational wind power facilities totaling 351 megawatts from Wind Capital Group.
The final purchase price is US$242 million, and Pattern will also assume net debt of US$102 million. The acquisition includes ownership interests in the 201-MW Post Rock project in Kansas, and the 150-MW Lost Creek farm in Missouri. Pattern Energy expects to maintain a total combined owned interest of 270MW in these two facilities.
Post Rock and Lost Creek, which have been operational for an average of approximately four years, are fully contracted under power purchase agreements. Post Rock has a long-term contract with Westar, whilst Lost Creek has a similar contract with Associated Electric Cooperative Incorporated. The average remaining life of the contracts is 16 years.
