Windkraft Nord USA has divested the project rights of the 80MW Vivaldi Springtime wind project in the US State of Montana to Pattern Energy Group’s subsidiary Pattern Development for an undisclosed price.
According to the German-based WKN subsidiary, the wind project is ready to be built and has secured a power purchase agreement (PPA). WKN in turn is owned by PNE Wind.
The companies involved in the transaction have mutually agreed to have an option to expand the wind project in the future.
Construction of the wind project is slated during the course of the year with commercial operations likely to begin from mid 2018. The wind project will be built in Stillwater County near Reed Point and is likely to feature 26-35 turbines.
WKN COO Roland Stanze said: “Vivaldi Springtime has been a long term development of the WKN Group.
“Over the last couple of years the project has been updated in regards to permitting and a power purchase agreement (PPA) has been obtained with extensive support of the local development team of PNE WIND USA.”
In December 2016, NorthWestern Energy had agreed to buy power from the wind project at a price of $37.63 per megawatt hour.
PNE Wind USA chairman & CEO Ron Flax-Davidson said: “The closing of the transaction represents the successful culmination of several years of intensive wind development activities by PNE WIND and WKN in USA.
“We look forward to the completion of several other development wind projects in USA in the very near future.”
Headquartered in California, Pattern Development develops renewable energy and transmission assets and has been associated with various wind power projects having a combined capacity of 4GW.