U.S. Pattern Energy sells its Chilean operations for $70.5 million

08/27/2018 12:48:00 PM (GMT)

U.S. power company Pattern Energy Group has announced that it has completed the sale of its operations in Chile to affiliates of energy investment firm Arroyo.

The operations consist of its 81 megawatts (MW) owned interest in the 115 MW El Arrayán Wind project, for which Pattern Energy received a cash consideration of $70.5 million.

Pattern Energy expects to use the proceeds to reinvest in accretive assets, repurchase stock and make other beneficial investments.

This price represents a cash available for distribution (CAFD) multiple that is greater than the CAFD multiple for projects the company has acquired in the past.

Pattern Energy Group

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