Pattern Energy (PEGI) Misses Q3 EPS by 11c, Revenues Beat

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Pattern Energy (PEGI) Reports Agreement to Sell K2 Wind Facility in Ontario for Approx. $166M to Investor Group Led by Axium Infrastructure

November 7, 2018 8:13 AM EST

Pattern Energy Group Inc. (NASDAQ and TSX: PEGI) ("Pattern Energy" or the "Company") today announced it has entered into an agreement for the sale of the Company's 90 megawatt ("MW") minority owned interest in the K2 Wind power facility ("K2") in Ontario for a purchase price of CAD$216.0 (US$166.0 million1), to a consortium of investors led by Axium Infrastructure (the "Axium Consortium").

Highlights:

Sale reflects the significant intrinsic value of the assets in the portfolio compared to the value ascribed to the business in the public marketsSale... More