Pattern Energy has a portfolio of 20 wind power facilities, including one project it has agreed to acquire, with a total owned interest of 2,736 MW in the United States, Canada and Chile that use proven, best-in-class technology. These facilities generate stable long-term cash flows in attractive markets that have strong growth potential. Each of our facilities has contracted to sell all of its energy output, or a majority, on a long-term, fixed-price power sale agreement. Eighty-nine percent of the electricity to be generated by our facilities will be sold under these power sale agreements, which have a weighted average remaining contract life of approximately 14 years.
Our seasoned management team has worked together for 10 years and possesses more than 20 years of experience on average in the energy industry. We have developed, financed and managed more than $12 billion of infrastructure assets, including more than 4,500 MW of wind power projects and facilities. The Pattern Energy team is driven by a creative entrepreneurial spirit which is sustained by years of experience.
We intend to create long-term value for our shareholders in an environmentally responsible manner and with respect for the communities in which we operate. Our business is built on three core values of creative energy and spirit, pride of ownership and follow through, and a team first attitude.
Pattern Energy’s financial objective is to create long-term value for our shareholders by producing stable and sustainable cash for distribution, grow our portfolio of facilities and our dividend, and maintain a strong balance sheet and flexible capital structure. We intend to grow our business through third-party acquisitions, including from Pattern Energy Group LP, our main shareholder and a leading North American power developer.
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