Pattern Energy Group Inc. (PEGI), the first U.S. wind developer to complete an initial public offering, is planning its first solar farms, its chief executive officer said.
“We are in negotiations on a number of solar projects”, Pattern’s Mike Garland said in an interview today at Bloomberg’s headquarters in New York. “It fits our model nicely.”
The company, based in San Francisco, owns eight wind farms in the U.S., Canada and Chile, and has six more, with a total of 746 megawatts, under development, Garland said.
The economics of solar power typically aren’t as attractive as wind farms, he said.
“There are some deals that are, but we are trying to find those,” he said. “There are going to be a lot of nice complements where you can start using wind and solar together.”
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