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Pattern Energy has entered into an agreement for the sale of the company's operations in Chile, which consist of its 81MW owned interest in the 115MW El Arrayán Wind project, to affiliates of Arroyo Energy Investors for which Pattern Energy will receive cash consideration of US$ 67.0 million.
El Arrayán Wind is located approximately 400 km north of Santiago on the coast of Chile. The facility commenced commercial operations in the second quarter of 2014 and approximately 70% of its production is contracted for sale through a long-term fixed-for-floating hedge with Minera Los Pelambres. The transaction is expected to close within 90 days, subject to customary closing conditions.
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