Pattern Turns To Solar After Building Top Chile Wind Farm – Bloomberg

The company owns 70 percent of El Arrayan while London-based Antofagasta has 30 percent. The wind farm will provide power to Antofagasta Plc (ANTO) s Los Pelambres copper mine. Pattern went public in September with a $319 million initial public offering and sought another $300 million in a secondary offering in May. Garland said the company will tap capital markets twice a year to finance a backlog of renewable energy projects. Its board members include John Browne , a former chief executive officer of oil giant BP Plc. Prices Double In Chile, power prices have doubled in the last seven years and could increase 30 percent in the next seven, Energy Minister Maximo Pacheco said in a May 15 speech. While Chile isnt facing blackouts, it needs more contributors to the grid and diversification of sources to avoid further cost increases, President Michelle Bachelet said at the time. Her government is looking to play a more active role in issuing permits for projects and involve communities from an early stage to avert legal disputes.
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