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MarketScreener Homepage  >  Equities  >  Nasdaq  >  Pattern Energy Group Inc    PEGI

PATTERN ENERGY GROUP INC

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Pattern Energy : completes sale of K2 wind facility

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01/11/2019 | 08:34am EDT

Pattern Energy Group Inc announced that it completed the sale of the Company`s 90 megawatt minority owned interest in the K2 Wind power facility in Ontario for a purchase price of CAD 216.0 (USD 160.0 million1), to a consortium of investors led by Axium Infrastructure. The transaction closed on December 31, 2018.

Mr Mike Garland, CEO of Pattern Energy said that "The sale of K2 at a 15.0x ten-year average CAFD multiple2 demonstrates the intrinsic value of our wind power assets and highlights our ability to selectively recycle assets in order to redeploy capital into more accretive opportunities. We have now sold two assets, El Arrayn and K2, at significant premiums to the multiple at which we trade in the markets. We will continue as operator of K2 after the sale. Pattern Energy is the largest operator of wind power facilities in Canada with more than 1,500 MW under operation across the country."

(c) 2019 ITP Business Publishing Ltd. All Rights Reserved. Provided by SyndiGate Media Inc. (Syndigate.info)., source Middle East & North African Newspapers

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Financials ($)
Sales 2019 549 M
EBIT 2019 87,3 M
Net income 2019 28,0 M
Debt 2019 2 397 M
Yield 2019 7,65%
P/E ratio 2019 29,94
P/E ratio 2020 51,83
EV / Sales 2019 8,31x
EV / Sales 2020 7,98x
Capitalization 2 166 M
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Number of Analysts 13
Average target price 22,3 $
Spread / Average Target 0,96%
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Managers
NameTitle
Mike M. Garland President, CEO & Non-Independent Director
Alan R. Batkin Chairman
Christopher M. Shugart Senior Vice President-Operations
Michael J. Lyon CFO & Principal Accounting Officer
Dean S. Russell VP-Special Projects & SVP-Engineering/Consruction