Pattern Energy Group Inc. (PEGI), the wind-power producer that went public in September, increased its stake in the 115-megawatt El Arrayan wind farm in Chile.
Pattern agreed to pay $45.3 million for AEI Services LLC’s 38.5 percent stake and assume approximately $87 million in project debt, the San Francisco-based company said today in a statement. Pattern increased its holding to 70 percent.
Antofagasta Minerals SA retains a 30 percent interest in the wind farm, the continent’s largest, located about 400 kilometers (250 miles) north of Santiago on Chile’s coast.
Pattern, which owns 1,479 megawatts of wind-power capacity, raised $319 million in its September IPO and sought another $300 million in a secondary offering last month.
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