The Parry Sound District is one step closer to adding more clean energy to its electric power grid.
In its latest construction update, Henvey Inlet Wind is reporting it’s nearing the end of construction with only finishing touches left at the wind farm site.
Wind already supplies about 15 percent of Texas’s electricity, and now developers are about to quadruple the state’s solar capacity, adding enough panels by 2022 to light up all of Dallas. But they won’t just power homes. Solar developers are responding to demand from oil and gas drillers, whose booming operations are gobbling up electricity and pushing prices spiking above $1,000 a megawatt-hour.
Rene Braud, Director of Environmental Policy and Compliance at Pattern Energy, was recognized Tuesday evening with the Andrew Linehan Award for Environmental Excellence at AWEA’s annual Wind Project Siting and Environmental Compliance Conference in Albuquerque, New Mexico.
"We continue to demonstrate a strong ability to manage the business for the wind variability experienced. We are on track for our 2019 full year guidance target with our effective capital management and growth strategy, despite wind resource levels that were below the long-term average in the Eastern United States," said Mike Garland, CEO of Pattern Energy. "We are executing our strategy to grow our CAFD per share through 2020 without the requirement to issue new common equity. The actions we are taking are meant to ensure that we can maintain our dividend, drive down our payout ratio and fund the acquisition of identified ROFO projects. We have expanded our identified ROFO list to 1.3 GW with new projects in New Mexico during the quarter. Our investment in Pattern Development remains on track to deliver meaningful growth beyond 2019."
Each year we invite around 200 of the most senior financiers, tech specialists and owner-operators in wind energy to high-profile venues in London and North America.
We pride ourselves on organising these exclusive and highly-focused events, designed for those in the industry looking to avoid large conferences and trade shows.
"It was another solid quarter with CAFD up more than three times the same period last year, which puts us in a great position to achieve our targeted CAFD(1) for the year," said Mike Garland, President of Pattern Energy. "We continue to take proactive measures to increase our CAFD without issuing common equity including, asset recycling, repowering Gulf Wind and the implementation of cost savings.
"It was a great quarter with CAFD up 19%, as production was solid and our disciplined cost management initiatives delivering results. We are on track to achieve our targeted CAFD(1) for the year," said Mike Garland, President and CEO of Pattern Energy. "At 29% ownership of Pattern Development 2.0, we will have achieved our target ownership level in the development business which we believe will provide meaningful value to shareholders. Our identified ROFO ("right of first offer") list with Pattern Development 2.0 has grown by four new projects since our original investment in June of last year.
Mike Garland, Pattern Energy Inc. president and chief executive officer, and Mike Lyon, chief financial officer will host a conference call (listen only) at 10:30 a.m. to discuss the first quarter 2018 financial results.