Tuesday, April 19, 2011

Pattern Energy and Samsung Renewable Energy acquire wind projects from Suncor Energy and Northland Power

Pattern Energy Group LP (Pattern) and Samsung Renewable Energy (Samsung), a subsidiary of Samsung C&T Corporation today announced that they have jointly acquired land from the Fargo Wind Project from Suncor Energy and a nearby wind development project from Northland Power in Ontario. The two development projects will be included in the larger South Kent Wind Farm, a 270 megawatt (MW) wind project located in the Regional Municipality of Chatham-Kent, which Pattern and Samsung are developing this year.

Pattern Energy’s major stakeholder is Riverstone Holdings, a New York-based private-equity firm. Pattern currently has 520 MW of wind energy in operation in the U.S. and in southern Manitoba, Canada.

"Pattern and Samsung will be able to accelerate the development of these projects by combining them with our nearby South Kent Wind Farm and its transmission connection," said Mike Garland, CEO of Pattern.

"Together with Pattern, we are making major progress on our goal to bring new sources of wind energy to Ontario," said Cheol-Woo Lee, Senior Executive Vice President of Samsung. "In addition to closing on these projects we are closing on thousands of acres in southwestern Ontario and the Bruce region for the development of more than 500 MW of wind power, which will use Ontario-made wind turbine components and towers from new Ontario factories in Tillsonburg (blades) and in Windsor (towers)."

South Korean, Samsung is an emerging global leader in renewable energy with projects in Canada, the United States, Costa Rica, Korea, France, Italy, Greece, and Turkey.

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