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Transactions - MAY 21, 2018

Pattern buys 1GW wind project and power line development in New Mexico

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Pattern Energy Group 2 has acquired two development assets in New Mexico from Clean Line Energy Partners, the Western Spirit Transmission Line (Western Spirit) and the Mesa Canyons Wind Farm (Mesa Canyons). The addition of Mesa Canyons will bring Pattern Development's wind development footprint in the Estancia Valley of New Mexico to more than 3,000 megawatts.

Mesa Canyons and Western Spirit are both in advanced stages of development and are expected to begin construction next year, with a targeted in-service date of 2020. Mesa Canyons will directly interconnect to Western Spirit, delivering power to the New Mexico grid at the existing Rio Puerco substation owned by Public Service Company of New Mexico. Collectively, these two projects are estimated to bring hundreds of construction jobs to rural New Mexico, millions of dollars in increased tax revenue to the state, and billions of dollars in long-term economic impact over the life of the projects.

“New Mexico is leading the way in producing wind power and will continue to be at the forefront of America's clean energy success story," said U.S. Senator Martin Heinrich. "With Pattern Development's acquisition of the Western Spirit Transmission Line and the M­­­esa Canyons Wind Farm, we are one step closer to being able to access and export our state's vast renewable energy resources to major energy markets. These projects will spur job creation in rural New Mexico and generate billions of dollars in economic impact. We need to seize these opportunities to diversify our economy and chart a course for a more prosperous future for New Mexico."

U.S. Congresswoman Michelle Lujan Grisham added, “New Mexico has some of the best wind and solar resources in the nation and that has the potential to not only transform our state’s economy but lay the foundation for a clean energy future. Today’s announced investment will continue to develop our quickly growing wind industry that is creating jobs, diversifying our economy, and increase economic development in our state.”

 

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