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.
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.
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 third quarter 2017 financial results.
The Meikle Wind project is located approximately 33km north of Tumbler Ridge in the Peace Region and will provide clean, renewable energy to help meet the provincial government’s clean energy objectives.
Investor Day Presentation discusses; the major initiatives for growth, Pattern Development 2.0, public sector pension investments, Expand pipeline in the US and Canada, Business Development in the US, Canada, Japan, and Mexico.