The energy company will acquire the Gulf Wind project, a 283 megawatt wind project located on the Gulf Coast in Kenedy County, Texas, from Babcock & Brown.
The project's consists of 118 wind turbines that are capable of generating 283 megawatts of renewable energy every year, due to its prime placement in an area that provides favorable wind conditions during times of peak demand and pricing.
"Gulf Wind is a premier wind energy project that implements leading scientific technology and solidifies Pattern Energy's presence in the Texas renewable energy market," said Mike Garland, the CEO of Pattern Energy. "Gulf Wind is situated in a unique coastal location where the winds blow strongest at the times of the day, as well as the seasons of the year, when electricity demand and prices are highest—translating into strong revenue and the ability to better meet demand in the markets we serve."
The wind project is also ideally located nearby transmission lines so it can easily deliver power to markets it services, and has the price of a majority of the energy it transmits secured under long-term power sales agreements.
