Pattern Energy - Renewable Energy for Generations - 500 Beiträge pro Seite

[KMST]

Pattern Energy has a portfolio of 20 wind power facilities, including one project it has agreed to acquire, with a total owned interest of 2,736 MW in the United States, Canada and Chile that use proven, best-in-class technology. These facilities generate stable long-term cash flows in attractive markets that have strong growth potential. Each of our facilities has contracted to sell all of its energy output, or a majority, on a long-term, fixed-price power sale agreement. Eighty-nine percent of the electricity to be generated by our facilities will be sold under these power sale agreements, which have a weighted average remaining contract life of approximately 14 years.

Our seasoned management team has worked together for 10 years and possesses more than 20 years of experience on average in the energy industry. We have developed, financed and managed more than $12 billion of infrastructure assets, including more than 4,500 MW of wind power projects and facilities. The Pattern Energy team is driven by a creative entrepreneurial spirit which is sustained by years of experience.

We intend to create long-term value for our shareholders in an environmentally responsible manner and with respect for the communities in which we operate. Our business is built on three core values of creative energy and spirit, pride of ownership and follow through, and a team first attitude.

Pattern Energy’s financial objective is to create long-term value for our shareholders by producing stable and sustainable cash for distribution, grow our portfolio of facilities and our dividend, and maintain a strong balance sheet and flexible capital structure. We intend to grow our business through third-party acquisitions, including from Pattern Energy Group LP, our main shareholder and a leading North American power developer.

http://files.shareholder.com/downloads/AMDA-25NBHH/572522756…

https://seekingalpha.com/symbol/PEGI

Beim derzeitigen Kurs von knapp $21 erhält man hier ca. 8% Dividende bei insgesamt klasse Wachstumsaussichten über die nächsten Jahre. Auf aktuellem Niveau habe ich meine bestehende Position über die letzten Tage ausgebaut.
Dank der 8% Dividende und bestehenden Guidancen sollte PEGI Versorger und den Gesamtmarkt outperformen können.

DYOR

[KMST]

SAN FRANCISCO, Feb. 26, 2018 /PRNewswire/ -- Pattern Energy Group Inc. (PEGI) ("Pattern Energy (PATT.RC)" or the "Company") today announced a series of transactions highlighted by: 1) agreements to acquire 206 megawatts ("MW") of owned capacity in projects from Pattern Energy Group LP ("Pattern Development 1.0") and Green Power Investments ("GPI"); and 2) an additional investment in Pattern Energy Group 2 LP ("Pattern Development 2.0") to fund the acquisition of a controlling interest in GPI, a Japanese renewable developer, from Pattern Development 1.0.

"These investments represent Pattern Energy's entry into the exciting Japanese renewables market by acquiring a portfolio of projects and by making an additional investment in Pattern Development 2.0 to fund a well-established operating and development management team, GPI," said Mike Garland, CEO of Pattern Energy. "Japan is one of the largest electrical grids in the world and has one of the most robust renewable energy markets. Under the Feed-in Tariff ("FiT") power contracts, these initial projects average ¥25,340 per megawatt hour ("MWh") (or the equivalent of $230/MWh at an ¥110/USD exchange rate). GPI's development pipeline consists of 2.4 gigawatts ("GW") of projects, including 600 MW of wind capacity which have qualified for FiT contracts. Additionally, we believe that as we grow our portfolio, we will be able to enhance our economics over time with the use of local, low cost capital."

Transaction Highlights

Increases Pattern Energy's operating portfolio to nearly 4 GW of gross capacity, with more than 2.9 GW of owned capacity, across 25 projects, including the projects it has agreed to acquire
The 206 MW portfolio consists of two operating solar projects (Futtsu and Kanagi), one operating wind project (Otsuki) and two in-construction wind projects (Ohorayama and Tsugaru)
The cash purchase price for the 84 MW portfolio of Futtsu, Kanagi, Otsuki and Ohorayama is approximately $131.5 million, which represents a 10.5x multiple of the five-year average cash available for distribution1 ("CAFD")
The cash purchase price for the 122 MW Tsugaru project is approximately $194.0 million, which represents a 9.0x multiple of the five-year average CAFD1 starting with the first full year of operations in 2021
A $27 million investment in Pattern Development 2.0's acquisition of Pattern Development 1.0's controlling interest in GPI
All funding required for the transactions will be provided from available liquidity at Pattern Energy

Futtsu Solar
The Futtsu Solar project commenced commercial operations in the first quarter of 2016 and operates under a 20-year power purchase agreement with TEPCO Energy Partner, a retail division of parent company Tokyo Electric Power Company Holdings, which has a Ba2 credit rating.

Located just outside Tokyo in Chiba prefecture, the 29 MW Futtsu Solar project utilizes Kyocera solar panels.

Kanagi Solar
The Kanagi Solar project commenced commercial operations in the first quarter of 2016 and operates under a 20-year power purchase agreement with Chugoku Electric Power Company, which has an A3 credit rating.

Located in Shimane prefecture, the 10 MW Kanagi Solar project utilizes Kyocera solar panels.

Otsuki Wind
The Otsuki Wind project commenced commercial operations in the fourth quarter of 2006 and operates under a 20-year power purchase agreement with Shikoku Electric Power Company, which has an A- credit rating.

Located just a few miles from the Ohorayama Wind project in the Kochi prefecture, the 12 MW Otsuki Wind project consists of twelve Mitsubishi wind turbines.

Ohorayama Wind
The Ohorayama Wind project is expected to commence commercial operations in March 2018 and will operate under a 20-year power purchase agreement with Shikoku Electric Power Company, which has an A- credit rating.

Located in Kochi prefecture, on the island of Shikoku, the 33 MW Ohorayama Wind project consists of eleven 3.0 MW GE wind turbines.

The $131.5 million acquisition price for the 84 MW project portfolio (Futtsu, Kanagi, Otsuki and Ohorayama) and the $27 million investment in Pattern Development 2.0 will be funded from existing corporate liquidity sources. Pattern Energy will also enter into a 12-year hedge agreement for the four projects to manage the foreign exchange movements of the cash flows from the Japanese assets. The acquisition and funding of these projects is expected to close in March 2018.

Tsugaru Wind
The Tsugaru Wind project is expected to commence commercial operations in mid-2020 and will operate under a 20-year power purchase agreement with Tohoku Electric Power Company (unrated).

Located in Aomori prefecture, the 122 MW Tsugaru Wind project will consist of 38, 3.2 MW GE wind turbines.

The $194.02 million total consideration for the acquisition of the Tsugaru project is split into two payments and will be financed such that no Pattern Energy corporate capital is required until commencement of commercial operations. The initial payment totaling approximately $79.72 million will be funded at the closing of construction financing for the project utilizing existing liquidity. Local construction debt bridge facilities will close shortly thereafter replacing this capital and will provide a natural foreign exchange hedge during the construction period. The second cash consideration payment of ¥12.567 billion is payable to Pattern Development 1.0 upon the term conversion of the construction loan3, which is expected in mid-2020. As part of the agreement, Pattern Development 1.0 has agreed to reimburse Pattern Energy for construction cost overruns up to a cap.

Japanese Renewables Market
The Japan power market consists of 248 GW of installed capacity of all forms serving 985 terawatt hours ("TWh") of demand.4 The Japanese Wind Power Association is targeting 36 GW of installed wind capacity by 2030 from a base of approximately 3 GW in 2016. Power purchase agreement prices range from US$220 to US$360/MWh.

The Conflicts Committee of the Board of Directors of Pattern Energy, which is comprised entirely of independent directors, reviewed and recommended the terms of the acquisitions for approval by the Board of Directors, and it was approved by the Board. The Conflicts Committee was advised on financial matters by Evercore Group L.L.C., which also provided a fairness opinion.

[KMST]

endlich mal wieder ein paar positive news...aktuell gibts fast 9% dividende. demnächst dann noch Q4 und jahresende. da wird dann noch alles mögliche reingepackt werden.

[KMST]

SAN FRANCISCO, March 1, 2018 /PRNewswire/ -- Pattern Energy Group Inc. (the "Company" or "Pattern Energy (PATT.RC)") (NASDAQ and TSX: PEGI) today announced its financial results for the 2017 fourth quarter and year.


Highlights

(Comparisons made between fiscal 2017 and fiscal 2016 results, unless otherwise noted)

Proportional gigawatt hours ("GWh") sold of 7,787 GWh, up 14%
Net cash provided by operating activities of $218 million, up 33%
Cash available for distribution ("CAFD") of $145.8 million, up 10%
Net loss of $82.4 million
Adjusted EBITDA of $343.7 million, up 13%
Revenue of $411.3 million, up 16%
Declared a first quarter dividend of $0.422 per Class A common share or $1.688 on an annualized basis, subsequent to the end of the period, unchanged from the previous quarter's dividend
Agreed to acquire 206 MW of owned capacity in five Japanese projects which represents the Company's entry into one of the most robust renewables markets in the world, subsequent to the end of the period
Returned the Santa Isabel project in Puerto Rico to operation at a limited capacity, after reconnection to the grid by the Puerto Rico Electric Authority ("PREPA"), in February 2018
Raised $58.6 million in capital through asset rotation with the completion of the sale of a 49% interest of the Class B membership interest in the 182 MW Panhandle 2 project to Public Sector Pension Investment Board ("PSP Investments")
Invested $27 million in Pattern Energy Group 2 LP's ("Pattern Development 2.0") announced acquisition of the majority interest in Green Power Investments ("GPI") and the Japanese development pipeline from Pattern Energy Group LP ("Pattern Development 1.0"), subsequent to the end of the period
Completed an equity offering of approximately $215 million in gross proceeds

"We met our targeted CAFD range for the year, however the result was not as strong as we had anticipated primarily due to unexpected curtailments from one-time transmission repairs in Texas and Arizona, as well as weaker than expected wind resources at the very end of the year. We increased our portfolio to nearly three gigawatts, with the additions of Broadview, Meikle and the Japanese portfolio since the beginning of 2017," said Mike Garland, President and CEO of Pattern Energy. "We paid for these acquisitions from available liquidity. Our investment in the development business strengthened the platform and improved alignment across the business providing greater flexibility. We continue to have many opportunities for growth; however, we intend to be disciplined in our approach toward new capital given the recent volatility in the capital markets and we intend to pursue alternatives for owning and managing quality projects. The capital we captured from the sale of a minority interest in the Panhandle 2 project in December is just one example of the alternatives we can consider to fund future growth."

https://www.prnewswire.com/news-releases/pattern-energy-repo…

[KMST]

Pattern Energy Completes First Wind Power Facility in Japan

SAN FRANCISCO, March 22, 2018 /PRNewswire/ -- Pattern Energy Group Inc. (PEGI) (Pattern Energy (PATT.RC)) today announced the completion of its 33 megawatt (MW) Ohorayama Wind power facility, which is located in Japan's Kochi Prefecture.


"Ohorayama Wind is our first wind project in Japan to complete construction and it was on schedule and under budget. Ohorayama will be followed by the Tsugaru project, which has started construction and will be the largest wind power facility in Japan when it's completed in 2020," said Mike Garland, CEO of Pattern Energy. "We have built a sound foundation for growing our business in Japan, which is one of the most robust renewables markets in the world. Our projects have been developed, constructed and will be operated by our affiliate and partner, GPI, which has one of the best development pipelines in Japan consisting of 2.4 gigawatts of wind projects."

Ohorayama Wind operates under a 20-year power purchase agreement with Shikoku Electric Power Company, which has an A- credit rating. Located in Kochi Prefecture, on the island of Shikoku, Ohorayama Wind consists of eleven 3.0 MW GE wind turbines.

Including Ohorayama Wind, Pattern Energy has five renewable energy facilities in Japan, including four in operations and one in construction, totaling 206 MW of owned capacity.

The Ohorayama Wind facility was jointly developed by Pattern Energy Group LP (Pattern Development) and Green Power Investment Corporation (GPI).

[KMST]

Pattern Energy Reports First Quarter 2018 Financial Results


EPS of $1.32 beats by $1.17
Revenue of $111.66M (+ 10.7% Y/Y) misses by $-23.09M

- Declares dividend of $0.4220 per Class A common share for second quarter 2018 -

SAN FRANCISCO, May 10, 2018 /PRNewswire/ -- Pattern Energy Group Inc. (the "Company" or "Pattern Energy (PATT.RC)") (NASDAQ & TSX: PEGI) today announced its financial results for the 2018 first quarter.

https://mma.prnewswire.com/media/199964/pattern_logo.jpg

Highlights
(Figures reported below are for the first quarter of fiscal 2017, unless otherwise noted)

Proportional gigawatt hours ("GWh") sold of 2,127 GWh, up 4%
Net cash provided by operating activities of $27.8 million
Cash available for distribution ("CAFD") of $43.1 million, and on track to meet full year guidance(1)
Net loss of $12.6 million
Adjusted EBITDA of $104.2 million
Revenue of $111.7 million, up 11%
Declared a second quarter dividend of $0.4220 per Class A common share or $1.688 on an annualized basis, subsequent to the end of the period, unchanged from the previous quarter's dividend
Acquired 206 megawatts ("MW") of owned capacity in five Japanese projects which represents the Company's entry into Japan, one of the most robust renewables markets in the world
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")
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. "In addition, we were able to successfully acquire five assets in Japan, one of the best renewable markets in the world, that form a strong platform to grow our business there and to improve the value of the projects over time. The Company is in an excellent position to make further acquisitions without raising any common equity, allowing us to grow our CAFD per share."

(1)


The forward looking measure of 2018 full year cash available for distribution (CAFD) is a non-GAAP measure that cannot be reconciled to net cash provided by operating activities as the most directly comparable GAAP financial measure without unreasonable effort primarily because of the uncertainties involved in estimating forward-looking changes in working capital balances which are added to earnings to arrive at cash provided by operations and subtracted therefrom to arrive at CAFD. A description of the adjustments to determine CAFD can be found within Item 2, Management's Discussion and Analysis of Financial Condition and Results of Operations - Key Metrics, of Pattern Energy's 2018 Quarterly Report on Form 10-Q for the period ended March 31, 2018.

Financial and Operating Results

Pattern Energy sold 2,126,662 megawatt hours ("MWh") of electricity on a proportional basis in the first quarter of 2018 compared to 2,038,159 MWh sold in the same period last year. The 4% increase was primarily due to volume increases as a result of acquisitions in 2017 and 2018 and favorable wind at projects in Canada partially offset by unfavorable wind and curtailment primarily at projects in the Texas market and at Santa Isabel. Production for the quarter was 7% below the long-term average forecast for the period.

Net cash provided by operating activities was $27.8 million for the first quarter of 2018 compared to $43.8 million for the same period last year. The $15.9 million decrease was primarily due to a $12.6 million increase in transmission and projects costs primarily due to acquisitions in 2017 and 2018, a $10.0 million increase in interest payments and a $2.9 million decrease in distributions from unconsolidated investments. These decreases in net cash provided by operating activities were partially offset by a $10.8 million increase in revenue.

Cash available for distribution was $43.1 million for the first quarter of 2018, compared to $45.1 million for the same period last year. The $2.1 million decrease was primarily due to a $12.6 million increase in transmission and projects costs primarily due to acquisitions in 2017 and 2018, a $3.9 million increase in interest expense (excluding amortization of financing costs and debt discount/premium), a $6.5 million increase in distributions to noncontrolling interests, a $3.5 million increase in principal payments of project-level debt and a $0.9 million decrease in distributions from unconsolidated investments. These decreases in cash available for distribution were partially offset by increases of $20.2 million in revenue (excluding unrealized loss on energy derivative and amortization of PPAs), $2.5 million in release of restricted cash and $4.3 million in cash from other, primarily related to a $3.4 million project reserve funding requirement made in the first quarter 2017.

Net loss was $12.6 million in the first quarter of 2018, compared to a net income of $2.5 million for the same period last year. The change of $15.2 million was primarily attributable to increases of $24.3 million in cost of revenues due to the acquisitions in 2017 and 2018 and $2.0 million in tax provision. This change was partially offset a $10.8 million increase in revenue primarily due to acquisitions in 2017 and 2018 and the settlement of business interruption insurance related to our Santa Isabel project and a decrease of $0.5 million in other expense.

Adjusted EBITDA was $104.2 million for the first quarter of 2018 compared to $98.2 million for the same period last year. The $6.0 million increase in the quarterly period was primarily due to a $20.2 million increase in revenue (excluding unrealized loss on energy derivative and amortization of PPAs) primarily attributable to volume increases as a result of the 2017 and 2018 acquisitions and an insurance settlement for Santa Isabel partially offset by lower electricity sales as a result of changing prices, unfavorable wind and curtailment primarily at projects in the Texas market and at Santa Isabel. This increase was partially offset by increases of $5.5 million in project expenses, $7.1 million in transmission costs and $0.8 million in transaction costs primarily related to the Japan acquisition.

2018 Financial Guidance

Pattern Energy is re-confirming its targeted annual cash available for distribution(2) for 2018 within a range of $151 million to $181 million, representing an increase of 14% compared to cash available for distribution in 2017.

(2)


The forward looking measure of 2018 full year cash available for distribution (CAFD) is a non-GAAP measure that cannot be reconciled to net cash provided by operating activities as the most directly comparable GAAP financial measure without unreasonable effort primarily because of the uncertainties involved in estimating forward-looking changes in working capital balances which are added to earnings to arrive at cash provided by operations and subtracted therefrom to arrive at CAFD. A description of the adjustments to determine CAFD can be found within Item 2, Management's Discussion and Analysis of Financial Condition and Results of Operations - Key Metrics, of Pattern Energy's 2018 Quarterly Report on Form 10-Q for the period ended March 31, 2018.

Quarterly Dividend

Pattern Energy declared a dividend for the second quarter 2018, payable on July 31, 2018, to holders of record on June 29, 2018 in the amount of $0.4220 per Class A common share, which represents $1.688 on an annualized basis. The amount of the second quarter 2018 dividend is unchanged from the first quarter 2018 dividend.

Project Acquisitions

During the first quarter of 2018, Pattern Energy acquired 206 MW of owned interest in five projects in operation or under construction located in Japan from Pattern Development 1.0 and GPI. The portfolio consists of two operating solar projects (Futtsu and Kanagi), two operating wind projects (Otsuki and Ohorayama, which commenced commercial operation during the quarter) and one wind project under construction (Tsugaru), each of which possess a 20-year power purchase agreement.

Pattern Energy acquired the 84 MW portfolio of Futtsu, Kanagi, Otsuki and Ohorayama for a cash purchase price of $131.5 million(3), which represents approximately a 10.1x multiple of the five-year average CAFD(4).

Pattern Energy acquired the 122 MW Tsugaru project at the start of construction, once fully financed on a non-recourse basis, for a total cash consideration of $194.0 million(3), which represents a 9.3x multiple of the five-year average CAFD(4) starting with the first full year of operations in 2021.

Pattern Energy has agreed to acquire a 51% interest in the 143 MW Mont Sainte-Marguerite project, located in the Chaudière-Appalaches region south of Québec City. The project commenced commercial operations in the first quarter of 2018. The project has a 25-year power purchase agreement with Hydro-Québec, which has an AA-/Aa2 credit rating.

Pattern Energy will acquire its 51% interest in Mont Sainte-Marguerite for a total investment of approximately $40 million(5), which represents approximately a 10x multiple of the five-year average CAFD(4). The acquisition is expected to close in the coming weeks, with the recent the commencement of commercial operations and subject to customary closing conditions. It will be funded at the time of closing using available liquidity.

(3)


Based on a Japanese yen to USD exchange rate of ¥110.



(4)


The forward looking measure of five-year average annual purchase price multiple of CAFD contribution from each of the five Japanese projects and Mont Sainte-Marguerite project is a non-GAAP measure that cannot be reconciled to net cash provided by operating activities as the most directly comparable GAAP financial measure without unreasonable effort primarily because of the uncertainties involved in estimating forward-looking changes in working capital balances which are added to earnings to arrive at cash provided by operations and subtracted therefrom to arrive at CAFD. A description of the adjustments to determine CAFD can be found within Item 2, Management's Discussion and Analysis of Financial Condition and Results of Operations - Key Metrics, of Pattern Energy's 2018 Quarterly Report on Form 10-Q for the period ended March 31, 2018.



(5)


Based on a CAD to USD exchange rate of $1.27.

Acquisition Pipeline

Pattern Development 1.0 and Pattern Development 2.0 (together, the Pattern Development Companies) have a pipeline of development projects totaling more than 10 GW. Pattern Energy has a Right of First Offer ("ROFO") on the pipeline of acquisition opportunities from the Pattern Development Companies. The identified ROFO list stands at 935 MW of potential owned capacity and and represents a portion of the pipeline of development projects of the Pattern Development Companies, which are subject to Pattern Energy's ROFO. Since its IPO, Pattern Energy has purchased, or agreed to purchase, 1,564 MW from Pattern Development 1.0 and in aggregate grown the identified ROFO list from 746 MW to more than 2 GW.

Below is a summary of the identified ROFO projects that Pattern Energy has the right to purchase from the Pattern Development Companies in connection with its respective purchase rights:














Capacity (MW)

Identified
ROFO Projects



Status



Location



Construction
Start (1)



Commercial
Operations (2)



Contract
Type



Rated (3)



Pattern
Development-
Owned (4)

Pattern Development 1.0 Projects













Conejo Solar(5)



Operational



Chile



2015



2016



PPA



104



104

Belle River



Operational



Ontario



2016



2017



PPA



100



43

El Cabo



Operational



New Mexico



2016



2017



PPA



298



125

North Kent



Operational



Ontario



2017



2018



PPA



100



35

Henvey Inlet



In construction



Ontario



2017



2019



PPA



300



150














Pattern Development 2.0 Projects













Stillwater Big Sky



In construction



Montana



2017



2018



PPA



79



67

Crazy Mountain



Late stage development



Montana



2017



2019



PPA



80



68

Grady



Late stage development



New Mexico



2018



2019



PPA



220



188

Sumita



Late stage development



Japan



2019



2021



PPA



100



55

Ishikari



Late stage development



Japan



2019



2022



PPA



100



100














1,481



935



(1)


Represents year of actual or anticipated commencement of construction.



(2)


Represents year of actual or anticipated commencement of commercial operations.



(3)


Rated capacity represents the maximum electricity generating capacity of a project in MW. As a result of weather and other conditions, a project or a turbine will not operate at its rated capacity at all times and the amount of electricity generated will be less than its rated capacity. The amount of electricity generated may vary based on a variety of factors.



(4)


Pattern Development-Owned capacity represents the maximum, or rated, electricity generating capacity of the project in MW multiplied by Pattern Development 1.0's or Pattern Development 2.0's percentage ownership interest in the distributable cash flow of the project.



(5)


From time to time, the Company conducts strategic reviews of its markets. The Company has been conducting a strategic review of the market, growth, and opportunities in Chile. In the event the Company believes it can utilize funds that have already been invested in Chile or funds that might otherwise be invested in Chile in a more productive manner elsewhere that could generate a higher return on investment, it may decide to exit Chile for other opportunities with greater potential. In addition, Pattern Development 1.0 is also concurrently exploring strategic alternatives for its assets in Chile.

Cash Available for Distribution and Adjusted EBITDA Non-GAAP Reconciliations

The following tables reconcile non-GAAP net cash provided by operating activities to cash available for distribution and net income (loss) to Adjusted EBITDA, respectively, for the periods presented (in thousands):



Three months ended March 31,



2018



2017

Net cash provided by operating activities(1)


$


27,824




$


43,752


Changes in operating assets and liabilities


28,576




13,423


Network upgrade reimbursement


282




317


Release of restricted cash


2,488




—


Operations and maintenance capital expenditures


(261)




(146)


Distributions from unconsolidated investments(2)


6,281




4,205


Other


860




(3,432)


Less:




Distributions to noncontrolling interests


(9,187)




(2,647)


Principal payments paid from operating cash flows


(13,803)




(10,326)


Cash available for distribution


$


43,060




$


45,146




(1)


Included in net cash provided by operating activities for the three months ended March 31, 2017 is the portion of distributions from unconsolidated investments paid from cumulative earnings representing the return on investment.



(2)


Distributions from unconsolidated investments includes project cash flow transferred to the project's distribution account in March 2018 and received subsequently in April 2018.





Three months ended March 31,



2018



2017

Net income (loss)


$


(12,620)




$


2,539


Plus:




Interest expense, net of interest income


25,110




22,061


Tax provision


6,784




4,775


Depreciation, amortization and accretion


62,650




47,227


EBITDA


81,924




76,602


Unrealized loss on energy derivative (1)


11,047




2,358


(Gain) loss on derivatives


(5,660)




648


Other


—




312


Plus, proportionate share from unconsolidated investments:




Interest expense, net of interest income


9,468




9,340


Depreciation, amortization and accretion


8,768




8,454


(Gain) loss on derivatives


(1,335)




484


Adjusted EBITDA


$


104,212




$


98,198




(1)


Amount is included in electricity sales on the consolidated statements of operations.

Conference Call and Webcast

Pattern Energy will host a conference call and webcast to discuss these results at 10:30 a.m. Eastern Time on Thursday, May 10, 2018. Mike Garland, President and CEO, and Mike Lyon, CFO, will co-chair the call. Participants should call [phone] or [phone] and ask an operator for the Pattern Energy earnings call. Please dial in 10 minutes prior to the call to secure a line. A replay will be available shortly after the call. To access the replay, please dial [phone] or [phone] and enter access code 5748379. The replay recording will be available until 11:59 p.m. Eastern Time, May 31, 2018.

[KMST]

May 21 (Renewables Now) - Pattern Energy Group 2 LP, or Pattern Development, has acquired the 1,000-MW Mesa Canyons Wind Farm project along with the Western Spirit Transmission Line scheme in New Mexico from Clean Line Energy Partners.

Pattern Development said in a press statement today that this transaction brings its wind development footprint in the Estancia Valley of New Mexico to above 3,000 MW. The company will continue to co-develop the Mesa Canyons project with the New Mexico Renewable Energy Transmission Authority (RETA), according to the announcement.

Both of the newly-purchased assets are in advanced stages of development. The Mesa Canyons wind farm in Lincoln County will enter the construction phase next year. It will be built on privately-owned land and will directly interconnect to the 345-kV Western Spirit transmission line once up and running in 2020.

Pattern Development has been involved in a few other assets in New Mexico, including the 324-MW Broadview Wind facilities and the 345-kV Western Interconnect Transmission facility. It expects to start construction of the 221-MW Grady Wind farm this summer.

[KMST]

Pattern Energy Enters Agreement to Sell Operations in Chile
- Enters agreement for sale of 81 MW in El Arrayán Wind project to Arroyo Energy Investors -

SAN FRANCISCO, May 24, 2018 /PRNewswire/ -- Pattern Energy Group Inc. (PEGI) ("Pattern Energy (PATT.RC)" or the "Company") today announced it has entered into an agreement for the sale of the Company's operations in Chile, which principally consist of its 81 megawatt ("MW") owned interest in the 115 MW El Arrayán Wind project ("El Arrayán Wind"), to affiliates of Arroyo Energy Investors ("Arroyo") for which Pattern Energy will receive cash consideration of $67.0 million. This price represents a cash available for distribution ("CAFD") multiple that is greater than the CAFD multiple for projects the Company has acquired in the past. Pattern Energy also expects to eliminate more than $1.0 million of annual overhead related to managing the business in Chile.

"The sale of El Arrayán Wind is an excellent result for us. The price represents a 30 percent uplift over El Arrayán Wind's contribution to the Company's current value," said Mike Garland, CEO of Pattern Energy. "While the purchase price demonstrates material embedded value in our assets, the primary reason for the sale was strategic. Chile was a good candidate for sale as it was one of the higher cost operations in our fleet because of the distance from the rest of our operations and the different legal, tax and regulatory environments. The proceeds of the sale will go to either make further accretive investments, pay down debt, buy back stock or other corporate purposes. We want to thank our employees in Chile who have been outstanding, loyal, smart and demonstrated an excellent work ethic. We could not have asked for a better team."

El Arrayán Wind is located approximately 400 km north of Santiago on the coast of Chile. The facility commenced commercial operations in the second quarter of 2014 and approximately 70% of its production is contracted for sale through a long-term fixed-for-floating hedge with Minera Los Pelambres.

The transaction is expected to close within 90 days, subject to customary closing conditions.

Because the marketing for the sale of El Arrayán Wind was conducted concurrently with the marketing for the sale of Conejo Solar, a project in Chile owned by Pattern Energy Group LP ("Pattern Development 1.0"), the Conflicts Committee of the Board of Directors of Pattern Energy (which is comprised entirely of independent directors) reviewed and considered the El Arrayán Wind transaction in accordance with Pattern Energy's conflict of interest policies, including with respect to the relative purchase price of El Arrayán Wind and Conejo Solar and waiver of Pattern Energy's Right of First Offer (the "ROFO") over Conejo Solar. The Board of Directors of Pattern Energy approved the El Arrayán transaction and waiver of the ROFO rights related to Conejo Solar, which will be sold to Arroyo concurrent with the El Arrayán Wind transaction.

[wallstreetmarc]

Antwort auf Beitrag Nr.: 57.822.212 von KMST am 24.05.18 12:36:29

Da beherrscht jemand copy & paste!
Trotzdem eine interessante Firma als Depotbeimischung zum Divis schnippeln. Aktuell ca 8%

[KMST]

mal sehen ob und was dabei rum kommt.
hauptsache eine neue c-corp. auf eine lp mit k-1 steuerbescheid kann ich verzichten...



Pattern Energy (PEGI +8%) shares spiked into the close following a Bloomberg report citing takeover interest in the company.

PEGI is working with a financial adviser after drawing interest from suitors including Brookfield Asset Management (NYSE:BAM), which has floated the idea of merging the company with TerraForm Power (NASDAQ:TERP), according to the report; BAM owns ~65% of TERP.

Talks are said to be ongoing but no decision has been made and the company could remain independent.

[KMST]

so $26.75 gibts in cash +nochmal 0,422 dividende pro share.
hier ist endstation, bitte alles aussteigen. schade, hatte hier gute 9% yield on cash + 50% capital gain jetzt auf die ich steuern zahlen muss. schöner mist, da ich nicht weis was ich jetzt dafür kaufen soll. mittlerweile ist irgendwie alles teuer außer tabak und davon hab ich schon zuviel