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Pattern Energy Acquires a 33% Equity Interest in 270MW K2 Wind Power Facility

published: 2015-06-23 15:48

Pattern Energy Group Inc. (Pattern Energy) has closed the previously announced acquisition of a one-third interest in the 270 MW K2 Wind Power Facility in Ontario from Pattern Energy Group LP (Pattern Development). Pattern Energy will hold a 33% equity interest in the facility, which is equally co-owned by Samsung Renewable Energy, Inc. and Capital Power LP. 

"We are closing on our interest in K2 Wind on schedule, growing our operations in Canada to four facilities with a total of 430 owned MW," said Mike Garland, President and CEO of Pattern Energy.

The 270 MW K2 Wind, one of the largest wind power facilities in Canada, has the capacity to generate clean energy for approximately 100,000 Ontario homes annually. Located in the Township of Ashfield-Colborne-Wawanosh (ACW) in southwestern Ontario, K2 Wind is comprised of 140 Siemens 2.3 MW wind turbines and operates under a 20-year PPA with the Independent Electricity System Operator (IESO).

The acquisition of K2 Wind expands Pattern Energy's operations in Canada to four wind power facilities.

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