The Federal Energy Regulatory Commission on May 8 approved a Pattern Energy Group Inc. buy of two wind farms in Missouri and Kansas from a company based in Ireland.
On April 6, Lost Creek Wind LLC, Post Rock Wind Power Project LLC and Pattern US Finance Co. LLC filed an application seeking authorization for a transaction in which Wind Capital Group LLC will sell or cause to be sold the indirect controlling interests in Lost Creek and Post Rock to Pattern Finance.
- Lost Creek owns and operates a 150-MW wind facility in Dekalb County, Missouri, within the Associated Electric Cooperative balancing authority area. Lost Creek sells 100% of its output to Associated Electric under a long-term power sales agreement.
- Post Rock owns and operates an approximately 201-MW wind facility in Ellsworth, Lincoln, and Rice counties, Kansas, within the Midwest Energy transmission area which is part of the Westar Energy transmission system. The Westar transmission system is located within the balancing authority area of the Southwest Power Pool. The Post Rock Facility’s generation interconnection facilities include a 32-mile, 230-kV lead line. Post Rock has committed the full output of its facility to Westar under a long-term contract.
Wind Capital is an affiliate of, and directly held by NTR plc, which is headquartered in Dublin, Ireland. NTR plc is an investor in renewable energy and waste management businesses.
Pattern Finance is a wholly owned subsidiary of Pattern Energy Group, which currently owns interests in twelve wind powered projects in the United States and other countries.
In the proposed transaction each of Wind Capital and Lost Creek Finance will sell and Pattern Finance will purchase 100% of the membership interests such that Pattern Energy will indirectly acquire all of the controlling interests in Lost Creek and Post Rock.