Pattern has become the top operator of wind capacity in Canada after switch-on at the 147MW Mont Sainte-Marguerite project in Quebec
Pattern Energy Group Inc. announced the completion of its 33-MW Ohorayama Wind-power facility, which is located in Japan’s Kochi Prefecture.
“Ohorayama Wind is our first wind project in Japan to complete construction and it was on schedule and under budget,” said Mike Garland, CEO of Pattern Energy.”
Pattern Energy executives addressed the yieldco’s sagging stock price, after the US-based wind operator chose not to raise its quarterly dividend for the first time since going public four years ago.
Although Pattern grew its cash available for distribution (CAFD) last year by 10% to $145.8m, adding the Broadview and Meikle wind farms to its roster, its dividend payout ratio has reached 100% of CAFD – a level the company deems unsustainably high and wishes to reduce.
Michael Garland, CEO of Pattern Energy, joins BNN's Catherine Murray for a look at what's taking shape in the renewable energy space as it makes a major move into Japan and what drove Q4 earnings. He also discusses how Trump's steel and aluminum tariffs could impact the purchase of future towers.
US-based yieldco makes first foray into Japanese market and operating solar with purchase of wind and PV portfolio.
More than three years have passed since Pattern’s development arm bought a majority stake in Japanese renewables developer Green Power Investment (GPI), but the latest round of deals formally opens a new chapter for publicly listed Pattern Energy – bringing it for the first time into Asia and into solar energy, two markets in which it is likely to expand in the years ahead.
JAPAN: US developer Pattern Energy has entered Japan's energy market by acquiring 167MW of wind projects jointly owned by one of its investment funds and a Japanese subsidiary.
"Pattern Energy's Meikle Wind facility is an outstanding example of how to bring together zero-carbon energy generation, local economic development and sustainable business. We are honored to have this project in British Columbia and we look forward to many more," said Jae Mather, Executive Director of Clean Energy BC.
On December 8, 2017, Amazon Wind Farm Fowler Ridge in Benton County, Indiana received a Top Plant Award in the renewables category from POWER magazine. All of the electricity generated by Amazon Wind Farm Fowler Ridge supplies the electric grids that service Amazon Web Services (AWS) datacenters.
With legislators in Washington, D.C. having passed the tax bill, I wanted to take a moment to outline its impact on Pattern Energy and on renewables in general.
We now know the final form of the bill and believe it provides the opportunity for continued expansion of the renewable power sector. Utility-scale wind and solar power generation are now recognized as the lowest cost forms of new power generation in the United States*. We do not see that changing as a result of the tax bill. There are three primary categories of how the tax bill could affect our business and renewables in general:
1. Corporate taxes;
2. Tax credits for renewables, and
3. Tax equity investor market
In the final frantic days before Hurricane Maria devastated this small town in the mountains of central Puerto Rico, Rosana Aviles Marin did everything she could to help her elderly parents prepare for what was coming.
Announced it is joining with other American wind energy companies as a keystone partner of Habitat Hammers Back, the Hurricane Harvey repair and rebuilding initiative led by Habitat for Humanity. The companies are donating $1 million in aggregate to support repairs and rebuilding efforts in areas impacted by the storms.