Bloomberg News

Pattern Gets Financing for 265-Megawatt California Wind Project

October 12, 2012

Pattern Energy Group LP, a San Francisco-based renewable-energy developer, completed financing for the 265-megawatt Ocotillo Wind project that’s under construction in California’s Imperial County.

The construction loan has a seven-year commercial bank tranche, from a group that was co-led by Deutsche Bank AG (DBK) and Royal Bank of Canada (RY), and a 20-year tranche funded by the North American Development Bank, Pattern said today in a statement. The Royal Bank of Scotland Group PLC (RBS), Societe Generale SA (GLE), Norddeutsche Landesbank Girozentrale and KeyCorp (KEY:US) also participated in the commercial tranch. The project will use 112 Siemens AG (SIE) 2.37-megawatt turbines and is expected to be complete early next year.

To contact the reporter on this story: Ehren Goossens in New York at egoossens1@bloomberg.net

To contact the editor responsible for this story: Will Wade at wwade4@bloomberg.net


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