SunEdison could sell Maine's largest wind farm proposal for $26.5M
San Francisco-based wind energy investors Pattern Energy Group Inc. could purchase the development rights for the King Pine wind project from SunEdison for $26.5 million.
The San Francisco-based wind energy investors Pattern Energy Group Inc. could pay approximately $26.5 million for the development rights of the proposed King Pine wind project, Maine’s single-largest wind farm, that are currently owned by the now-bankrupt SunEdison.
The Bangor Daily News reports that the purchase of the 174-turbine, 600-megawatt Aroostook County proposed project depends upon Pattern Energy winning a supply contract from Massachusetts, Connecticut and Rhode Island in their New England Clean Energy request for proposals.
As reported by Mainebiz in April, the wind farm proposal represents less than half the power Central Maine Power and Emera Maine’s joint Maine Renewable Energy Interconnect proposal plans to deliver to the three southern New England states.
The proposal also includes two Aroostook wind farms being developed by EDP Renewables North America LLC — the 400-megawatt Number Nine Wind Farm and 248-megawatt Horse Mountain Wind Farm — and is expected to send enough electricity to service 250,000 homes in southern New England.
If the sale is finalized, Pattern Energy would pay SunEdison $13.5 million and an additional $13 million at the closing of the sale for 100% interest in the project, according to the BDN.
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