Pattern Energy Group has announced it has closed the previously announced acquisition of two operational wind power facilities totalling 351MW from Wind Capital Group, LLC and its affiliates for a final purchase price of US$ 242 million plus assumed net debt of US$ 102 million.
The acquisition includes ownership interests in the 201MW Post Rock Wind facility in Kansas, and the 150MW Lost Creek Wind facility in Missouri. Post Rock Wind and Lost Creek Wind, which have been operational for an average of approximately four years, are fully contracted under power purchase agreements. The Post Rock Wind facility in Kansas has a long-term contract with Westar. The Lost Creek Wind facility in Missouri has a long-term contract with Associated Electric Cooperative Incorporated. The average remaining life of the contracts is 16 years.
