Pattern Energy Group LP (Pattern Energy) is pleased to announce that the Meikle Wind Energy LP project successfully closed a refinancing on December 20th, 2023. Meikle Wind, a 179-megawatt (MW) facility with 61 GE turbines, began commercial operations in 2017 and has a 25-year Power Purchase Agreement (PPA) with BC Hydro for 100 percent of its output. Pattern Energy owns 51 percent of Meike Wind.
The refinancing involved a long-term CAD $276 million Term Loan and a CAD $31 million Letter of Credit Facility. Our valued partners in this financing include Sumitomo Mitsui Banking Corporation, DZ Bank, National Bank of Canada, Royal Bank of Canada, and Sumitomo Mitsui Trust Bank, Limited, who served as Joint Bookrunners and Mandated Lead Arrangers, with SG joining as a Lender. Sumitomo Mitsui Banking Corporation also acted as Administrative Agent and Green Loan Coordinator.
This financing highlights the commitment of the partnering banks, three of which have been supporting the project since its construction financing in 2016. Pattern Energy is grateful for the continued support from our lenders, strengthening our collaborative work to provide clean, renewable energy to the British Columbia power market through the Meikle Wind facility.