2024-02-23
http://w3.windfair.net/wind-energy/news/18199-pattern-energy-increases-rofo-list-with-north-kent-wind-project-in-ontario

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Wind Industry Profile of


Pattern Energy Increases ROFO List with North Kent Wind Project in Ontario

Pattern Energy Group Inc. announced the addition of the North Kent Wind project to its list of identified Right of First Offer (ROFO) projects from Pattern Energy Group LP.

Pattern Energy expects to acquire an owned interest of 43 megawatts (MW) in the 100 MW North Kent Wind project, which is located in the Regional Municipality of Chatham-Kent, Ontario.

Highlights

  • 20-year PPA with IESO
  • Expands footprint in Canada to 10 projects in operation or on ROFO list
  • Increases ROFO list after recent acquisition of K2 Wind project

“We have more than one gigawatt of projects in Canada that are operational or have been added to the ROFO list – all of which have been secured with long-term PPAs,” said Mike Garland, President and CEO of Pattern Energy. “Following our recent agreement to acquire K2 Wind in Ontario, the addition of North Kent Wind replenishes the ROFO list, which now totals 930 MW of projects we expect to acquire. With a recent growth surge, Pattern Development has significantly expanded the number of new projects it is developing, which will fuel our near-term and long-term growth. We look forward to announcing more ROFO additions in the near future.”

The North Kent Wind project has entered into a 20-year power purchase agreement (PPA) with the Independent Electricity System Operator (IESO). North Kent Wind is being jointly developed by Pattern Development and Samsung Renewable Energy Inc. Construction of the project is expected to begin by the end of 2016 and it is expected to reach completion at the end of 2017.

The addition of the North Kent Wind project increases Pattern Energy’s ROFO list to nine projects with a total owned capacity of 930 MW. The list of identified ROFO projects represents a portion of Pattern Development’s 4,500 MW pipeline of development projects, all of which are subject to Pattern Energy’s right of first offer.

Source:
Pattern Energy
Link:
patternenergy.com/...



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