Pattern Energy Group LP (Pattern Energy) today announced it has completed the acquisition of the Clines Corners wind power development opportunity located in Torrance and Guadalupe Counties, New Mexico, from Orion Wind Power Resources, LLC, a joint venture between Orion Renewable Energy Group LLC (Orion) and MAP® Energy (MAP®). The Clines Corners development opportunity will support up to 1,000 MW of wind power on approximately 122,000 acres of private and state lands.
Pattern Energy will add the southernmost portion of the development opportunity, totaling 325 MW, to its suite of Western Spirit wind projects, which now comprise over 1,000 MW of New Mexico wind energy slated for construction later this year, alongside construction of the Western Spirit Transmission Line, which is owned by the New Mexico Renewable Energy Transmission Authority and being co-developed by Pattern Energy. The remaining portion of the acquisition could add up to 650 MW to Pattern Energy's suite of projects intended to connect to the SunZia Transmission line.
"Pattern Energy is expanding its commitment to New Mexico by increasing its investment in clean power, helping to build the state into a major renewable energy producer and benefitting New Mexico for generations," said Mike Garland, CEO of Pattern Energy. "As the leading wind company in New Mexico, we are proud to be helping position the state as a leader in wind energy. Western Spirit Wind and the Western Spirit Transmission Line will bring more than a thousand construction jobs to New Mexico this year and billions of dollars in economic benefit."
With this acquisition, Pattern Energy now has more than 4,000 MW of New Mexico wind in development, representing over $8 billion of planned investments.
"We are proud of the $1.6 billion in economic benefit we brought to New Mexico over the past three years with Broadview and Grady Wind," added Garland. "The Broadview and Grady Wind projects were the largest in the state's history at 544 MW and we expect to far surpass that with our new Western Spirit Wind projects."
"We are pleased to be working with Pattern Energy and look forward to seeing the Clines Corners wind farm constructed, along with the benefits that it will bring to landowners, the county and the region. Orion and MAP® have been working together for more than 15 years to create projects that transform the energy economy and invigorate rural communities," said Nicholas Hiza, Chief Development Officer at Orion.
Full construction on more than 1,000 MW of Pattern Energy's Western Spirit Wind projects will ramp up in 2020 together with the Western Spirit Transmission Line.
Pattern Energy's expertise in transmission is helping to unlock the state's vast renewable energy resources. New Mexico's wind and solar resources are some of the best in the world, and renewable power is now cheaper than any other source of electricity, providing the opportunity for New Mexico to become a regional supplier of clean power.
In 2017, Pattern Energy financed and built a new dedicated transmission line for its 544 MW Broadview and Grady Wind facilities, bringing clean power to new customers. The addition of Clines Corners Wind to the company's portfolio marks a promising milestone for Pattern Energy to replicate that success with its Western Spirit Wind and Western Spirit Transmission Line.
Source: Pattern Energy Group LPed
Date: Jun 16, 2020