Citigroup and GE Finance Pattern Energy Texas Wind FarmChristopher Martin
Pattern Energy Group LP, a closely held renewable energy company backed by private-equity investor Riverstone Holdings LLC, began construction on a 218-megawatt wind farm in Texas with financing from General Electric Co. and Citigroup Inc.
The Panhandle Wind Project, about 30 miles (48 kilometers) east of Amarillo, will use 118 GE turbines and is expected to be complete in August 2014, San Francisco-based Pattern said today in a statement. Terms weren’t disclosed.
A Citigroup unit, Citigroup Energy, will buy the power under a long-term agreement.