Pattern Energy Buys Finavera’s Wind Portfolio for $40 Million

Pattern Energy Group LP, a wind- project developer, agreed to buy Finavera Wind Energy Inc. (FVR)’s 300-megawatt British Columbia wind-farm assets for about C$40 million ($40 million).

Pattern agreed to refinance up to $9 million of Finavera’s corporate debt, fund some development costs and provide a 10 percent debt facility in exchange for the projects in development, including the Tumbler Ridge, Wildmare, Bullmoose and Meikle wind farms, Vancouver-based Finavera said today in a statement.

To contact the reporter on this story: Ehren Goossens in New York at egoossens1@bloomberg.net

To contact the editor responsible for this story: Jasmina Kelemen at jkelemen2@bloomberg.net

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