Pattern Energy completes sale of interest in 115 MW wind project in Chile

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Pattern Energy Group has announced that it has completed the sale of the its operations in Chile, which principally consist of an 81 MW owned interest in the 115 MW El Arrayán Wind project, to affiliates of Arroyo Energy Investors. Pattern Energy received a cash consideration of US$70.5 million before transaction related expenses of approximately US$2.0 million.

El Arrayán Wind is located approximately 400km north of Santiago on the coast of Chile. The facility commenced commercial operations in the second quarter of 2014 and approximately 70% of its production is contracted for sale through a long-term fixed-for-floating hedge with Minera Los Pelambres.

The company has attributed its exit from Chile to changes in the national power market, which motivated a focus on core business areas and reduction of overhead. The sale forms part of its strategy to recycle non-strategic holdings and use the capital to reinvest in accretive assets, repurchase stock or make other beneficial investments.

List of the country updates

Country updates

  • August 21, 2018

    Pattern Energy completes sale of the 81 MW owned interest in the El Arrayán Wind project

    The sale of the 81 MW owned interest in the 115 MW El Arrayán Wind project has been completed. Pattern Energy Group received $70.5 million as cash advance from Arroyo Energy Investors before tr...

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  • August 21, 2018

    Antofagasta sells 29.25% stake in Parque Eolico El Arrayan wind farm

    Antofagasta plc, subsidiary Antofagasta Minerals announced the sale of its 29.25% stake in Parque Eolico El Arrayan wind farm, a company that provides renewable energy to Los Pelambres, for $28 millio...

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  • August 10, 2018

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  • August 07, 2018

    Construction of Cerro Dominador solar complex restarted

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  • August 06, 2018

    Senvion to supply equipment for the Cabo Leones II wind farm

    Senvion has signed a conditional contract with GPG and Grupo Ibereólica Renovables for the supply of turbines with a total capacity of 204.7 MW for Cabo Leones II project, which is located in t...

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