in News Departments > Projects & Contracts
print the content item

Pattern Energy Group Inc. has increased its interest in the 115 MW Arrayan Wind project, the company's first wind farm outside North America.

Pattern has acquired AEI's 38.5% net ownership interest in the recently commissioned project, located on the coast of Chile, for $45.25 million. The transaction boosts Pattern's stake to 70%, with Antofagasta Minerals SA owning the remaining 30% minority stake. According to Pattern, El Arrayan Wind is the largest wind power facility in Chile and all of South America.

"With this acquisition, we are increasing our cashflow from the project while expanding our platform in the Chilean market, which has a strong, stable economy and a growing demand for renewable resources," comments Mike Garland, CEO of Pattern Energy."By harnessing Chile's strong coastal winds, El Arrayan will be the largest producer of wind power in South America, helping Chile meet its goal of generating 20 percent of its energy from renewable sources by 2025."





Trachte Inc._id1770
Latest Top Stories

Setting The Record Straight: How Many Birds Do Wind Turbines Really Kill?

Several peer-reviewed studies are more or less in agreement with avian mortality rates caused by wind turbines. However, one study, which is wildly off from the others, is most often cited in the media. Why?


Six Takeaways From The IRS' Start Of Construction Guidance: What You Need To Know

The IRS recently issued guidance to wind developers to further spell out what "start of construction" means. Will you be covered?


Eagle Take Permits For Wind Farms - Will They Fly?

Now that the U.S. Fish and Wildlife Service has issued the first permit allowing the legal take of eagles, can wind developers expect more certainty in the agency's application process?


Despite 2013 Challenges, U.S. Wind Power Reaches All-Time Low Price

In a new report, the U.S. Department of Energy details the highs and lows of the country's wind industry last year, and the agency maintains that the U.S. sector remains strong.


Mexico On Pace To Set New Renewables Investment Record

A new report says the country has spent $1.3 billion on clean energy in the first half of 2014 and could end up seeing a record year. Furthermore, wind power is slated for significant growth in the region.

Canwea_id1984
Renewable NRG_id1934
UnitedEquip_id1995
Tower Conference_id1965