Pattern Energy Group Inc. has closed the previously announced acquisition of two operational wind farms totaling 351 MW from Wind Capital Group LLC and its affiliates for a final purchase price of $242 million plus assumed net debt of $102 million.
The acquisition includes ownership interests in the 201 MW Post Rock Wind facility in Kansas and the 150 MW Lost Creek Wind facility in Missouri. Pattern Energy says it expects to maintain a total combined owned interest of 270 MW in these two facilities.
Post Rock Wind and Lost Creek Wind, which have been operational for an average of approximately four years, are fully contracted under power purchase agreements with with Westar and Associated Electric Cooperative Inc., respectively. The average remaining life of the contracts is 16 years.
The acquisition of these two facilities expands Pattern Energy's operations into two new U.S. states, Kansas and Missouri.