The two PV plants are both located in Japan and have already secured 20-year power purchase agreements. Image: Martin Abegglen/Flickr
Independent power company Pattern Energy has added two new PV plants — totaling 56MW — to its list of identified Right of First Offer (ROFO) projects from Pattern Energy Group LP.
The first project, Futtsu Solar, is a 42MW PV plant currently under construction in Chiba, Japan, that possesses a 20-year power purchase agreement (PPA) with Tokyo Electric Power Company. The second installation, Kanagi Solar, is a 14MW plant that is under construction in Shimane, Japan. Kanagi is locked in on a 20-year PPA with Chugoku Electric Power Company.
Along with these two projects, Pattern has also added four wind plants to its ROFO list, three of which will be located in Japan while one will be developed in Curry County, New Mexico. Pattern Development has now built up its project pipeline to 5,900MW.
Mike Garland, president and CEO of Pattern Energy, said: "Since the IPO we have expanded the ROFO list by 182%, offering investors detailed visibility into our growth plans.Between our operational facilities and our ROFO projects, we have also significantly expanded our reach, which now encompasses Chile, Japan, four provinces in Canada, Puerto Rico, and seven states across the United States.
"Included in the ROFO list is a large multi-phase project in New Mexico, which will deliver very attractively priced wind power directly into California. Our five new Japanese projects, which include two solar projects, demonstrate the progress that Pattern Development has made in its partnership with GPI in Japan.”
Garland continued: "Because of the great success of the relationship with Pattern Development, and given the dramatic expansion of its activities, we have agreed not to reintegrate the employees into Pattern Energy when the company hits the $2.5 billion market capitalization.”
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