Working together with development partners on specific projects has been a key component of our growth strategy as a company and will continue to be as we seek to expand our operational pipeline by 300 to 400 MW annually going forward.
A majority of today's wind projects across the United States and Canada were initiated by small companies or individuals. At Pattern, we greatly appreciate the hard work of these true "prospectors", recognize the value they bring, and often collaborate with them on the development of projects. For example, our St. Joseph Wind farm in Manitoba, Canada was started by a small, independent team of entrepreneurs. We partnered with them to complete the development of the project, which is now under construction. We continue to work with the same team to replicate this success in the development of other projects throughout Canada.
We also forge partnerships with major wind and transmission companies when it is mutually beneficial. For example, Pattern’s first wind project to enter construction, Hatchet Ridge Wind, arose from a development partnership with Renewable Energy Systems (RES). RES identified an attractive wind prospect in northern California, acquired the property, and began to develop it. As the project progressed, forming a partnership with RES made sense. With our team’s strong financial capability, proven ability to execute complex projects at all stages, and relationships with utility customers, we helped RES complete development and construction of the project and negotiate and execute a power purchase agreement with Pacific Gas & Electric Company.
