Pattern Energy Group LP (known as “Pattern Development”) announced Aug. 5 that it has acquired the Logan’s Gap wind project in Texas from Pioneer Green Energy.
Logan’s Gap is a 200-MW project to be built in Comanche County, Texas. Pioneer Green Energy began work of a significant nature in 2013 and executed a 10-year power purchase agreement (PPA) with Wal-Mart Stores for about 60% of the project’s expected production.
“We are very pleased to be working with Walmart, an icon of American business, which has agreed to buy the majority of the power produced by the Logan’s Gap project for the next decade,” said Mike Garland, CEO of Pattern Development. “America’s leading corporations are increasingly interested in wind energy, recognizing that as the price of wind power continues to decline, it is both good for the environment and good for business.”
Pattern Development expects to arrange financing for and start full construction of the project in the fourth quarter of 2014. The project is located in the Electric Reliability Council of Texas (ERCOT) North Zone and will connect to Oncor‘s 138-kV Comanche‐Zephyr line, which crosses the project site and supplies power to the Dallas‐Fort Worth area. The project is expected to begin commercial operation in late 2015.
Andy Bowman, president of Pioneer Green Energy, said: “Logan’s Gap is a unique asset in the ERCOT market due to its robust wind resource and excellent location in the grid.”
The Logan’s Gap project has been added by affiliate company Pattern Energy Group Inc. (NASDAQ: PEGI) (TSX: PEG) to its right of first offer (ROFO) pipeline of projects it can later get from Pattern Development.
With a long history in wind energy, Pattern Development’s highly-experienced team has developed, financed and placed into operation more than 3,000 MW of wind power projects. It has offices in San Francisco, San Diego, Houston, New York, and Toronto.
Pioneer Green Energy is a developer of utility-scale wind and solar projects across the US. The company initiated development for 788 MW of wind energy and 40 MW of solar energy that are now under construction. In the past, its principals have helped develop over 2,700 MW of currently operating wind projects owned by leading industry players. The company is based in Austin, Texas.