Pattern to develop First Nation wind power project in Canada
Pattern Development expects to arrange both construction and long-term debt financing for Henvey Inlet in 2016
Pattern Energy Group entered into a joint venture partnership with Henvey Inlet First Nation to jointly develop, own and operate the 300 MW Henvey Inlet Wind project to be built in Parry Sound District, Ontario.
Pattern Development will own a 50 percent joint venture interest in the 300 MW wind power project, which has a 20-year power purchase agreement with the Ontario Power Authority (OPA) for 100 percent of its expected production. Nigig Power Corp., wholly owned by Henvey Inlet First Nation, will own the other 50 percent of the project.
Pattern Development expects to arrange both construction and long-term debt financing for Henvey Inlet in 2016.
The Henvey Inlet Wind project has been added by affiliate company Pattern Energy Group Inc. to its list of identified right of first offer projects.