San Francisco-based Pattern Energy Group LP has closed financing and commenced construction on the Hatchet Ridge Wind Project. The 101.2 MW project, developed by Renewable Energy Systems Americas Inc. (RES Americas), will be located on a portion of Hatchet Mountain in Shasta County, Calif. The project is expected to finish construction and reach commercial operation before the end of next year.
Pacific Gas and Electric Co. (PG&E) will purchase the power, including the renewable attributes, under a 15-year power purchase agreement.
The Hatchet Ridge project is expected to create approximately 100 to 200 construction jobs over the next year and six to eight permanent jobs during operations.
In addition, $5 million will be invested in the local community over the life of the project through the Shasta County General Fund, the Shasta Regional Community Foundation and the Burney Foundation Regional Education Fund.
Pattern selected a six-bank club to provide a debt facility to fund project costs during construction, which converts to a term financing facility upon commercial operation. The lenders include Natixis, UBOC, LBBW, Calyon, SocGen and WestLB.
RES Americas Construction Inc. will construct the project, which will consist of 44 2.3 MW Siemens wind turbines.
SOURCE: Pattern Energy Group LP
