Pattern Energy Group Inc. (PEGI) Misses Q1 EPS by 29c

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Go back to Pattern Energy Group Inc. (PEGI) Misses Q1 EPS by 29c

Pattern Energy Agrees to Acquire 179 MW of Wind Power Project in Texas From Pattern Development

May 2, 2014 7:30 AM EDT

SAN FRANCISCO, May 2, 2014 (GLOBE NEWSWIRE) -- Growing its portfolio to 11 wind power projects, Pattern Energy Group Inc. (Nasdaq: PEGI) (TSX: PEG) ("Pattern Energy"), today announced it has agreed to acquire 179 megawatts (MW) of owned interest in the 218 MW Panhandle 1 wind project from Pattern Energy Group LP ("Pattern Development") following its completion, expected in June 2014, for a total cash consideration of US$125 million.

Acquisition Highlights

Third acquisition in a series of anticipated transactions with Pattern Development Adds 179 MW an increase of 14% in owned capacity upon... More

Pattern Energy Reports First Quarter Results

May 2, 2014 7:29 AM EDT

SAN FRANCISCO, May 2, 2014 (GLOBE NEWSWIRE) -- Pattern Energy Group Inc. (Nasdaq: PEGI) (TSX: PEG) (Pattern Energy), a premium independent power company, today announced its financial results for the first quarter of 2014.

Highlights

(Comparisons made between fiscal Q1 2014 and fiscal Q1 2013 results, unless otherwise noted)

Cash available for distribution of $17.8 million, up 23% Adjusted EBITDA of $37.2 million, up 8% Electricity sales of 653 GWh, up 8% Revenue of $49.5 million, up 13% Increased owned megawatts to 1,434 MW with the agreement to... More