Pattern Energy Group Inc. closed the sale of its 33.33% share in the K2 wind project in Ontario for C$216 million, or US$160 million.
The American Wind Wildlife Institute (AWWI) marked the 10th anniversary of its founding by releasing a new documentary short video showing pioneers of the organization and leading conservation figures who are committed to sustainable wind power and investing in research to address effects of wind energy on wildlife.
Pattern Energy Group announced the acquisition of a 35-MW owned interest in the Stillwater Wind facility from Pattern Energy Group 2 LP (Pattern Development 2.0). Stillwater commenced commercial operations in late October and is located in Stillwater County, Montana.
"It was another solid quarter with CAFD up more than three times the same period last year, which puts us in a great position to achieve our targeted CAFD(1) for the year," said Mike Garland, President of Pattern Energy. "We continue to take proactive measures to increase our CAFD without issuing common equity including, asset recycling, repowering Gulf Wind and the implementation of cost savings.
"It was a great quarter with CAFD up 19%, as production was solid and our disciplined cost management initiatives delivering results. We are on track to achieve our targeted CAFD(1) for the year," said Mike Garland, President and CEO of Pattern Energy. "At 29% ownership of Pattern Development 2.0, we will have achieved our target ownership level in the development business which we believe will provide meaningful value to shareholders. Our identified ROFO ("right of first offer") list with Pattern Development 2.0 has grown by four new projects since our original investment in June of last year.
Mike Garland, Pattern Energy Inc. president and chief executive officer, and Mike Lyon, chief financial officer will host a conference call (listen only) at 10:30 a.m. to discuss the first quarter 2018 financial results.