Pattern Energy, Samsung get C$580 million financing for wind project

By Lisa Kerner

Charlotte, N.C., Oct. 28 – Pattern Energy Group LP and Samsung Renewable Energy, Inc. completed a C$580 million construction and term loan financing with 10 financial institutions.

The financing is for the 180 MW Armow Wind power project in the Township of Kincardine in Ontario, according to a news release. It is slated for completion in the fourth quarter of 2015.

“We have now successfully financed and started construction on four wind projects in Ontario, totaling approximately 870 MW of wind power that has resulted in over C$2.5 billion of new investment in the province,” Mike Garland, chief executive officer of Pattern Energy, said in the news release.

San Francisco-based Pattern Energy is an independent power company.

Toronto-based Samsung Renewable Energy is a wind and solar power company.

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