Pattern Energy Group has announced that its 200MW Logan's Gap Wind facility in Comanche County, Texas, consisting of 87 Siemens 2.3MW wind turbines, has completed construction and is fully operational.
Pattern Energy has an owned interest of 164MW in the facility and four institutional tax equity investors have acquired the balance. The facility is financed with all equity rather than project debt. The facility will sell 75% of the electricity produced to Walmart and a financial institution. Walmart has a 10-year power purchase agreement to acquire 58% of the expected output from the facility. Seventeen percent of the expected output will be sold under a 13-year fixed price agreement with a A-/Baa2-rated financial institution. The remaining 25% of expected output will be sold at ERCOT spot market prices.
