Pattern Energy acquires controlling interest in Chile project

Pattern Energy Group has confirmed the acquisition of AEI’ s 38.5% net ownership interest in the 115 MW El Arrayán Wind project.

By Ritesh Gupta

The project, which was completed earlier this month and is now fully operational, is located approximately 400 km north of Santiago on the coast of Chile.

The transaction increases Pattern Energy’s ownership in El Arrayán Wind to 70% with Antofagasta Minerals owning the remaining 30% minority stake.

Pattern Energy operates the project, which sells approximately 70% of its output to Minera Los Pelambres through a long-term fixed-for-floating hedge. The project sells its remaining output into the Chilean spot market at the prevailing market price at the time of sale.