M&A Deal Summary

Arroyo Energy Investors Acquires Pattern Energy Group - Chilean Operations

On May 24, 2018, private equity firm Arroyo Energy Investors acquired renewable energy company Pattern Energy Group - Chilean Operations from Pattern Energy Group for 67M USD

Acquisition Highlights
  • This is Arroyo Energy Investors’ 5th transaction in the Renewable Energy sector.
  • This is Arroyo Energy Investors’ largest (disclosed) transaction.
  • This is Arroyo Energy Investors’ 2nd transaction in Chile.

M&A Deal Summary

Date 2018-05-24
Target Pattern Energy Group - Chilean Operations
Sector Renewable Energy
Buyer(s) Arroyo Energy Investors
Sellers(s) Pattern Energy Group
Deal Type Divestiture
Deal Value 67M USD

Target

Pattern Energy Group - Chilean Operations

Chile
Pattern Energy Group LP - Chilean Operations consist of its 81 megawatt ("MW") owned interest in the 115 MW El Arrayán Wind project ("El Arrayán Wind"), El Arrayán Wind is located approximately 400 km north of Santiago on the coast of Chile. The facility commenced commercial operations in the second quarter of 2014 and approximately 70% of its production is contracted for sale through a long-term fixed-for-floating hedge with Minera Los Pelambres.

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Buyer(S) 1

DESCRIPTION

Arroyo Energy Investors is a private investment firm focused on opportunities in the energy industry. The Firm has a particular interest in energy infrastructure and will consider businesses throughout the US, Mexico, and Chile. Arroyo Energy Investors was formed in 2003 and is headquartered in Spring, Texas.


DEAL STATS #
Overall 5 of 8
Sector (Renewable Energy) 5 of 6
Type (Divestiture) 1 of 1
Country (Chile) 2 of 2
Year (2018) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-09-01 ARCO

Chile

ARCO is a 215 MW utility-scale, renewable power generation assets, and 75 MW distributed, renewable generation assets.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-11-01 Huinala

Monterrey, Mexico

Huinala is a 143 MW natural gas-fired combined cycle power plant.

Buy -

Seller(S) 1

SELLER

Pattern Energy Group

San Francisco, California, United States

website


Category Company
Founded 2013
Sector Renewable Energy
DESCRIPTION

Pattern Energy Group LP owns and operates renewable energy facilities. Pattern Energy business is built around three core values of creative energy and spirit, the pride of ownership and follow-through, and a team-first attitude, which guide us in creating a safe, high-integrity work environment, applying rigorous analysis to all aspects of business, and proactively working with our stakeholders to address environmental and community concerns.


DEAL STATS #
Overall 2 of 3
Sector (Renewable Energy) 2 of 3
Type (Divestiture) 2 of 3
Country (Chile) 1 of 1
Year (2018) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-05-24 Broadview Wind Farm

United States

Broadview consists of two similarly large wind farms with a total capacity of 324.3MW situated along the New Mexico-Texas border around 100 miles south west of Amarillo. The larger wind farm has a capacity of 181.7MW and consists of 79 turbines. The 62 turbines of the smaller wind farm are located in Curry County, New Mexico and have a capacity of 142.6MW.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-08-14 Mont Sainte-Marguerite Wind

Quebec, Canada

Mont Sainte-Marguerite Wind facility operates under a 25-year power purchase agreement (PPA) with Hydro-Québec Distribution. Mont Sainte-Marguerite Wind facility is expected to generate enough power for approximately 28,000 Québec homes annually, according to power use statistics from Hydro-Québec. The facility site, located on one of the higher elevations in Southern Québec, has one of the strongest wind resources in the region.

Buy -