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Pattern completes purchase of Texas wind energy farm stake

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Pattern Energy Group (Nasdaq: PEGI, TSX: PEG) finalized the acquisition of a 172-MW share in a 218-MW wind energy project in Texas for $124.4 million.

Pattern Development sold the remaining 46-MW of the Panhandle 1 wind project to three institutional tax equity investors. The wind farm is fully operational and uses 118 General Electric (NYSE: GE) 1.85-MW wind turbines. Pattern acquired the181.7-MW Panhandle 2 in December 2013, which is expected to reach commercial operation by late 2014 and will use 79Siemens (NYSE: SI) SWT-2.3-108 turbines.

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