California-based Pattern Energy Group Inc., a firm with 17 wind farm operations around the world including two in Texas and one in Kansas is spending $269 million to buy a majority interest in a 324-megawatt wind farm in New Mexico.
Pattern purchased an 84 percent initial cash flow for Broadview Wind located 30 miles north of Clovis, New Mexico. It’s made the purchase from Pattern Development. It is under construction and the purchase includes a 35-mile transmission line . The company will end up owning 99 percent of the Western Interconnect transmission line.
Executives made the purchase based on their assessment that the Broadview will generate nearly $28 million a year in cash. The wind farm is comprised of 141 wind turbines that will be able to generate enough electricity for nearly 180,000 California homes. The company has two 20-year power purchase agreements with Southern California Edison.
Among the17 wind farm operations owned by Pattern Energy are the Panhandle Wind 1 and 2 in Carson County, Texas; the Gulf Wind farm in Armstrong, Texas; the Post Rock Wind farm along I-70 in Ellsworth and Lincoln counties in Kansas; and the Lost Creek Wind farm in DeKalb County, Missouri.