Pattern Development offloads 79.8-MW wind farm in Montana

Pattern Energy Group 2 LP, also known as Pattern Development, has sold its entire ownership in the 79.75-MW Stillwater wind farm in Montana, commissioned at the end of last month. Pattern Energy Group Inc (NASDAQ:PEGI) said on Monday it has purchased 51% of the class B interests in the particular wind park for around USD 23 million (EUR 20.3m) in cash. The acquired interest is equal to a 35-MW owned interest in the facility, while the price represents a cash available for distribution (CAFD) multiple of less than ten times of the average five-year CAFD contribution from the Stillwater project. The buyer said it has funded the acquisition with available liquidity.