New Projects, Wind

Samsung, Pattern close on $517.9mn financing for wind energy plant

Samsung Renewable Energy Inc. (Samsung) and Pattern Energy Group LP completed a C$580 million ($517.9 million) construction and term loan financing for a wind energy project in Ontario.

The financing was secured with 10 financial institutions. The 180-MW Armow Wind project will use 91 Siemens (NYSE: SI) 2.3 MW wind turbines, and the project has a 20-year power purchase agreement with the Ontario Power Authority. 

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