Recently, Pattern Energy announced that it has obtained 206MW of photovoltaic and wind energy projects from Japan and also announced the group's successful entry into Japan's renewable energy industry.
Pattern Energy's chief executive said that Japan has one of the world's largest grids and is one of the strongest renewable energy markets, with an average price of 25,340 yen per megawatt-hour under the grid contract. The development process includes a 2.4GW project including a 600MW wind turbine project in line with the FiT contract and in addition we believe that as we grow our portfolio we will be able to utilize our local low cost capital to improve our economy over time Benefit.
As a result of this transaction, Pattern Energy's operating portfolio will increase its total capacity to nearly 4GW. The 206MW project consists of two solar projects, one wind power project and two wind power projects under construction.
It is understood that the five renewable energy projects in cash purchase price of about 325.55 million US dollars.