Pattern Gets Financing for 265-Megawatt California Wind Project
Pattern Energy Group LP, a San Francisco-based renewable-energy developer, completed financing for the 265-megawatt Ocotillo Wind project that’s under construction in California’s Imperial County.
The construction loan has a seven-year commercial bank tranche, from a group that was co-led by Deutsche Bank AG (DBK) and Royal Bank of Canada (RY), and a 20-year tranche funded by the North American Development Bank, Pattern said today in a statement. The Royal Bank of Scotland Group PLC (RBS), Societe Generale SA (GLE), Norddeutsche Landesbank Girozentrale and KeyCorp (KEY) also participated in the commercial tranch. The project will use 112 Siemens AG (SIE) 2.37-megawatt turbines and is expected to be complete early next year.
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