Pattern completes sale for wind project in Chile

Pattern Energy Group LP signed 20-year renewable power sale and energy services agreements for its El Arrayan Wind project in Chile

San Francisco, November 28, 2011 — Pattern Energy Group LP signed 20-year renewable power sale and energy services agreements for its El Arrayan Wind project in Chile.

The agreements were completed with Minera Los Pelambres, a mining company controlled by Antofagasta, whose mining division Antofagasta Minerals S.A. will also have an option to acquire a 30 percent stake in the project.

The 115 MW El Arrayan project, being developed by Pattern, is located about 400 km north of Santiago on the coast of Chile. Once completed, the El Arrayan wind farm will be Chile's largest wind energy project, providing enough renewable energy to power up to 45,000 local homes each year without producing any emissions.

The El Arrayan wind power project is expected to begin construction in early 2012 and achieve commercial operation in the second half of 2013. Siemens will provide its 2.3MW wind turbines, which Pattern is also using in its U.S. and Canadian projects. Skanska will perform the balance of plant construction for the project. The project has secured all land leases required for the wind turbines and transmission line.

Pattern launched the financing of the project in late August and expects to reach financial close early next year. Local Chilean banks, as well as international banks, are currently analyzing the transaction; mandated lead arrangers were appointed in November.
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