Pattern Energy Group has earned revenue of $111.7 million (+11 percent) for the 2018 first quarter and reported net loss of $12.6 million
The company has sold 2,127 GWh (+4 percent) and acquired 206 MW of owned capacity in five Japanese projects, marking the company’s entry in Japan.
During this period, Pattern Energy also invested $27 million in Pattern Energy Group 2 LP’s (“Pattern Development 2.0”) acquisition of the majority interest in Green Power Investments (“GPI”) and the Japanese development pipeline from Pattern Energy Group LP (“Pattern Development 1.0”)
The company commenced commercial operations at two projects, the 33 MW Ohorayama Wind power facility in Japan and, subsequent to the end of the period, the 143 MW Mont Sainte-Marguerite Wind power facility in Quebec which Pattern Energy has agreed to acquire with closing expected in the coming weeks
“Our solid performance in Q1 puts us right on track for our targeted CAFD(1) for the year and is the result of our portfolio continuing to operate at the top end of the industry,” said Mike Garland, president and CEO of Pattern Energy.