Puerto Rico’s First Wind Farm Financed | EarthTechling

Pattern Energy Group has secured financing for Finca de Viento Santa Isabel, the first commercial wind energy project in Puerto Rico. The 75-megawatt (MW) project in the southern municipality of Santa Isabel is expected to generate enough electricity to power approximately 25,000 homes. Energy produced at the plant will be purchased by the Puerto Rico Electric Power Authority, under a 20-year power purchase agreement.

According to Puerto Rico Gov. Luis G. Fortuño, project is a reflection of the country’s comprehensive energy reform program. Construction on the wind farm, which will use Siemens‘ new SWT-2.3-108 turbines, is scheduled to begin in October. According to Pattern, approximately 150 jobs will be created during the construction process, and the plant will be completed by September 2012. Upon completion, 8-10 jobs will be required to operate the facility.

“With this project, Pattern enters into a partnership with Puerto Rico to pioneer its much-needed energy diversification and lead the way to cleaner and more efficient energy sources,” said Mike Garland, CEO of Pattern. “The provision of financing demonstrates the confidence that investors have placed in both Pattern’s proven ability to successfully see projects through to completion and in Puerto Rico as a viable market for the development of renewable energy in the long term.”

Pattern Energy Group LP is an energy company that develops, constructs, owns, and operates renewable energy and transmission assets in the United States, Canada and Latin America. The company has developed, financed and placed into operation more than 2,500 MW of wind power projects. Pattern currently operates 520 MW of wind energy in North America, and has a development pipeline exceeding 4,000 MW of renewable energy and transmission projects. The project is being financed by Siemens Financial Services.