Pattern Energy Increases Stake in El Arrayan Wind Farm in Chile

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.

To contact the reporter on this story: Justin Doom in New York at jdoom1@bloomberg.net

To contact the editors responsible for this story: Reed Landberg at landberg@bloomberg.net Jim Efstathiou Jr.

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