Pattern Energy Buying Panhandle 2 Wind Farm for $123.8 Million

Pattern Energy Group Inc. is buying a Texas wind farm from affiliated Pattern Energy Group LP for $123.8 million.

With the acquisition of the 182-megawatt project in Carson County, Pattern now owns 11 wind farms with a total capacity of almost 1.5 gigawatts, including the adjacent 172-megawatt Panhandle 1 project bought earlier this year, according to a statement today. Terms weren’t disclosed.

Panhandle 2 uses 79 2.3-megawatt Siemens AG turbines. The wind farm is contracted to sell about 80 percent of its output to an affiliate of Morgan Stanley as a longterm price hedge, with the balance selling at spot-market prices.

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