Pattern Energy Group Inc. recently announced its financial results for the fourth quarter and full year of 2014.

Highlights from the financial results:

– Cash available for distribution (CAFD) of $62.1 million, up 46%
– Adjusted EBITDA of $198.1 million, up 40%
– Proportional GWh sold of 2,915 GWh, up 65%
– Revenue of $265.5 million, up 32%Declared a first quarter dividend of $0.342 per Class A common share or $1.368 on an annualized basis, subsequent to the end of the period, representing a 2% increase over the previous quarter's dividend
– Acquired Panhandle 2 and Logan's Gap from Pattern Development, expanding its portfolio to 1,636 MW in owned capacity and 12 wind projects
– Initiated commercial operations at two projects; Panhandle 2, with an owned capacity of 147 MW, and Grand Renewable, with an owned capacity of 67 MW
– Added three new projects to the identified Right of First Offer (ROFO) list for a total of 977 MW owned capacity; Henvey Inlet and, subsequent to the end of the period, Amazon Web Services Wind Farm (Fowler Ridge) and Mont Sainte-Marguerite
– Pattern Development acquired a majority stake in Tokyo-based Green Power Investment Corporation (GPI), subsequent to the end of the period, which has more than 1,000 MW in near and longer term wind and solar projects in development and Pattern Development's interest in GPI's projects is subject to Pattern Energy's ROFO
– Pattern Development signed a joint venture agreement with CEMEX Energia, a subsidiary of CEMX S.A.B. (NYSE: CX), subsequent to the end of the period, to develop renewable energy projects throughout Mexico and Pattern Development's interest in the joint venture's projects is subject to Pattern Energy's ROFO
– Completed a $351 million follow-on primary and secondary equity offering, subsequent to the end of the period

"The $62.1 million in cash available for distribution we reported for 2014 exceeds the target we outlined during the IPO. This positive momentum reflects the continuous growth we have demonstrated in our portfolio, which now stands at 1,636 MW in owned capacity – up 57% since the IPO – as well as in our identified ROFO list, which has grown by 781 MW in owned capacity – an increase of 105% since the IPO," said Mike Garland, President and CEO of Pattern Energy. "At the same time, Pattern Development is also expanding our reach by entering new markets, like Japan and Mexico through its relationships with GPI and CEMEX, and contracting with new power buyers, like Walmart and Amazon. Our high-quality operating portfolio and the clear path for growth from our ROFO list underpin our stable and growing cash flow."

Pattern Energy sold 888,577 MWh of electricity on a proportional basis in the fourth quarter of 2014 compared to 440,623 MWh sold in the same period in 2013. Pattern Energy sold 2,914,810 MWh of electricity on a proportional basis for the full year 2014 compared to 1,771,772 MWh sold in 2013. The increases were primarily attributable to the commencement of commercial operations at South Kent, El Arrayan, Panhandle 1 and Panhandle 2 at various times during the year and the twelve-month figure also reflects an increase in production from an additional 42 MW at Ocotillo for the full year of 2014.

Net loss was $16.0 million in the fourth quarter of 2014 compared to $19.4 million in the same period last year. Net loss was $40.0 million for the full year 2014 compared to net income of $10.1 million in 2013. The change in the full year results was due primarily to unrealized losses on interest rate and energy derivatives (including the Company's proportion of the unrealized losses at its unconsolidated investments) which increased by $54.1 million for the year.

Adjusted EBITDA was $57.7 million for the fourth quarter of 2014 compared to $29.4 million in the same period last year. Adjusted EBITDA was $198.1 million for the full year 2014 compared to $141.8 million in 2013. A reconciliation of Adjusted EBITDA to net (loss) income determined in accordance with GAAP is shown below.

Cash available for distribution was $17.3 million in the fourth quarter of 2014 compared to $5.6 million in the same period last year. Cash available for distribution was $62.1 million for the full year 2014 compared to $42.6 million in 2013. The $11.7 million and $19.5 million increases, in the respective periods, were primarily the result of higher revenue primarily attributable to the commencement of commercial operations at both the El Arrayan and Panhandle 1 projects in June 2014 and a distribution from unconsolidated investments, as well as, increased production at Ocotillo which impacted the full year period. A reconciliation of cash available for distribution to net cash provided by operating activities determined in accordance with GAAP is shown below.

Pattern Energy declared an increased dividend for the first quarter 2015, payable on April 30, 2015, to holders of record on March 31, 2015, in the amount of $0.342 per Class A share, which represents $1.368 on an annualized basis. This is a 2% increase from the fourth quarter 2014 dividend of $0.335.

— Source: Pattern Energy

RWE Innogy has ordered seven N117/2400 wind turbines from Nordex for the 17-MW Opalenica project in Poland. The wind turbines are to be installed in summer 2015. The company has also signed a 15-year premium service contract for the turbines. “We are pleased to be able to build our seventh wind farm in Poland with Nordex and will be putting it into operation in 2015,” says Dr. Hans Bünting, managing director of RWE Innogy.

The Opalenica project is located in the Poznan region. RWE has opted for the N117/2400 as this turbine is specifically designed to match most of the conditions prevailing at the site. Consequently, the wind farm will have an above-average capacity factor of 34 percent despite the fact that the overall height of the systems has been capped at 150 metres by an administrative order. The high efficiency of the turbines will be decisive when the new rules for auction system will apply for tenders.

— Source: Nordex
 

Vestas has secured a firm and unconditional order for 12 of its V112-3.0 MW turbines for a project located in the region of Lodzkie, Poland.  The order has been placed by a private Polish investor.

The contract includes delivery, installation, and commissioning of the turbines, which is expected to occur during the third and fourth quarter of 2015. The project also includes a five-year Active Output Management (AOM) 4000 service contract.

— Source: Vestas
 

Gamesa has signed two new contracts in China, one to supply 50 MW to Hebei Construction & Investment Group, and another to supply 42 MW to the Chinese wind farm developer UPC.

The scope of the agreement with HCIG encompasses the supply, installation and commissioning of 25 of Gamesa’s G97-2.0 MW turbines, at the Nandianziliang wind complex located in the province of Shanxi, in northern China. The turbines are slated for delivery in May 2015, while the facility is expected to be commissioned by the third quarter of this year. Since 2008, Gamesa has supplied 180 MW to HCIG, one of the top 10 wind power operators in China.

Elsewhere, the contract with UPC includes the supply, installation and commissioning of 21 G97-2.0 MW turbines at the Huangyan wind farm in the province of Zhejiang, in eastern China. These turbines are to be delivered in April of this year and the project is expected to be fully commissioned by the third quarter of 2015. This is the first agreement reached between Gamesa and the wind farm developer UPC.

These two new contracts, signed during the last quarter of 2014, reinforce Gamesa’s commercial strategy in China, where the company won contracts for the supply of 450 MW during the course of the year.

— Source: Gamesa
 

Enel Green Power, acting through its subsidiary Enel Green Power North America Inc. , has extended the framework agreement signed at the end of 2013 with Vestas for the development of wind farms in the United States.

The 2013 agreement, which provided for the supply of Vestas wind turbines, supported and will continue to support EGP-NA’s recent successful growth in the United States.

The extension of this agreement confirms and expands EGP’s commitment to keep growing in the United States wind market. The capacity yet to be developed within the 2013 agreement, together with the current extension, will enable the Company to qualify up to approximately 1 GW of future wind capacity in the United States for Federal Production Tax Credits (PTCs).

EGP-NA’s ability to qualify for these federal tax incentives comes as a result of its continued substantial investment in the United States and recent action by the US Congress to extend the PTC as part of the Tax Increase Prevention Act of 2014, signed into law last month.

Enel Green Power in USA – Enel Green Power (EGP) operates in North America through Enel Green Power North America, Inc. (EGP-NA), which owns and operates over 90 plants in 21 U.S. States and two Canadian provinces. As of today, the company has a total installed capacity of more than 2,000 MW. Such a capacity base is diversified across four generation technologies, namely wind, geothermal, solar and hydro.

— Source: Enel Green Power
 

SKF introduces the capability to manufacture custom machined seals for all wind turbine applications, whether to meet exacting OEM specifications or to fix and/or upgrade existing sealing systems. A variety of proven seal designs and sizes, proprietary high-performance materials, and flexible manufacturing processes combine to deliver robust wind turbine sealing solutions tailored and delivered in short order.

SKF custom machined seals are engineered to facilitate up-tower installation, optimize protection against the ingress of contaminants, promote retention of lubricant, and ultimately help boost turbine reliability, productivity, and energy efficiency. Seals can be custom machined for main shafts, gearboxes, rotor bearings, yaw drives, pitch drives, and rotor brakes, among other critical applications.

SKF custom machined sealing solutions for the wind industry include rubber reinforced radial shaft seals made from hydrogenated nitrile rubber (HNBR) or machined from a proprietary polyurethane compound; advanced polyurethane compound excluder seals exhibiting excellent abrasion resistance and tear strength; V-ring seals (NBR, HNBR or polyurethane); SKF Speedi-Sleeve to replace damaged shaft surfaces without requiring power tools, heating, or changes in seal sizes; and hydraulic seals compatible with hydraulic fluids to meet the high power density demands of pitch and yaw drives and hydraulic brakes.

All SKF custom machined seals for the wind industry exhibit high form stability, can be developed in a wide range of sizes and dimensions, and can be configured either in solid or split designs (for easier handling and installation).

For more information, visit www.skfusa.com.

Torkworx and RAD Torque Systems recently announced the next generation of the E-RAD series of torque and tension equipment, exhibiting the companies’ shared ongoing commitment to being on the forefront of Electronic Digital Control Systems.

The ERAD-BLU provides the ability to control multiple tools through one single control case. The calibration is stored inside the E-RAD Handle which allows for multiple handles to be used with any E-RAD BLU controller. The 2” x 3” touch screen provides ultimate ease of use. Torque and angle operation is standard in all systems and WTG specific installed presets make the torque process error free. With newly advanced data collection and the ability to password protect the system settings, the ERAD-BLU is the most advanced electronic digitally controlled torque system available. We included a robust single cable design that can be removed from both ends for easy storage and replacement. The accuracy of our latest version has an accuracy of +/-2.8%. Currently the ERAD-BLU is available in 700, 2500, 3000 and 6000 ft/lbs models with the E-RAD 7500 to be released in the near future.

Joint Calibration can be completed via Bluetooth technology. This new technology delivers the ability to calibrate the ERAD-BLU with a Smart Socket via Bluetooth right on the joint with only two pulls. RAD Smart Sockets uses RAD’s Transducer Technology combined with a custom socket to measure the actual torque applied to the bolt during a torque cycle. Comparable in size to a standard socket, the RAD Smart Sockets are the perfect audit tool for inspecting bolted joints and can function as a master calibration for any torque tool. This patented technology provides accuracy within +/- 1% and measures then displays the peak torque reading. Smart Socket Technology logs the data on every torque reading for instant torque read-out on your application in real time. The operator can view and download logs right onto a Bluetooth enabled smartphone or tablet.

If you have critical torque and tension requirements, contact Torkworx by email at support@torkworx.com or by phone at (888) 502-WORX (9679) .

ITH Bolting Technology has introduced the ITH stretch method on wind turbine bolt connections bigger than 3/8″.
Next to its high system precision the ITH stretch method has even more benefits. As the required preload is applied by axial stretching of the bolt, the system works without friction effects and torsion effects. Friction occurs during torqueing. When torqueing bolts the effects of friction can influence the applied preload force up to 100 % from bolt to bolt. This high variation can lead to a collapse of the bolt connection. Therefore it is strongly recommended to use ITH Bolt Tensioning Cylinders on foundation bolt connections like shown in the picture above.

As ITH is worldwide leading tensioning system supplier, there are a lot specific innovations made for the demands of wind industry. In the application picture you can see a compact foundation bolt tensioning cylinder (multi-stage) including NIOX coating to prevent from corrosion, which is especially useful in offshore environments. The tensioner also features the ITH safety concept including patented safety handle, safety fracture device and patented cycle counter.

The new compact pumps series ITH Micro-MAX features an optional protective cage, a fast pressure build-up up to 1,500 bar as well as a remote control for easy one-man operation. Its both weight-optimized (50 lbs) and compact design (15’’ x 11’’ x 18’’) makes the Mico-MAX series perfectly match to work in the tight areas of a wind turbine like on tower bolt connections or inside of the nacelle.

All leading wind turbine manufacturers trust in ITH bolting solutions for all bolting applications like on the main bearing, main bearing hub, blade bolts, yaw bearing bolts, frame bolts or hub bolts.

Find all ITH bolting tool solutions for wind turbines at www.ith.com/industries/tension-and-torque-tools-for-wind-turbines.php.

Gamesa has secured a new contract with Parques Eólicos Gestinver (a company 50%-owned by each of Gestamp Eólica and Genera Avante) to provide operation and maintenance services for 132 MW located in five wind farms in Spain.

Under the terms of the agreement, Gamesa will perform maintenance services on 66 of its 2.0-2.5 MW platform wind turbines located in Lugo, Coruña, and Tarragona, Spain.

The contract contains an option for a five year extension, and renews the operation and maintenance agreement Gamesa has had for the five wind farms since their commissioning.

EDF Renewable Services, a leading provider of O&M services in North America, signed contracts for 454 MW of wind and 134 MWp of solar in 2014, adding to the company’s Canadian portfolio. These additions represent a 52 percent increase in contracted projects in the Canadian market through 27 individual projects in Quebec and Ontario, signifying the company’s commitment to the Canadian renewable energy economy.

“We are pleased to continue expanding our depth of experience and presence in Canada, to assist our customers in achieving operational excellence., said Dalen Copeland, director of business development for EDF Renewable Services, “From full O&M agreements, to customized monitoring, engineering support, SCADA solutions, balance-of-plant, and more, we leverage our more than 25 years of O&M expertise to optimize project availability and maximize profitability.”

EDF Renewable Services operates over 8.5 gigawatts of wind, solar and biomass projects throughout the US, Canada, and Mexico.

DICA® Outrigger Pads introduces the ZeroLift Pad Rack, a crane accessory offering safety benefits for crane operators. The Pad Rack eliminates the need for crane operators to manually lift and carry outrigger pads, and makes transport on the job site simple and safe.

ZeroLift Pad Rack has a carrying capacity of 1,000 pounds and is adjustable to fit pad sizes up to 48”x60”. Made of high-strength steel, the Pad Rack easily installs on either the front or rear of rough-terrain cranes. A single hitch point allows ZeroLift Pad Rack to fold up and out of the way when not in use. When mounted correctly, the ZeroLift Pad Rack has minimal impact on crane ground clearance. At only 60 pounds, the Pad Rack does not affect crane load charts. In addition, ZeroLift Pad Rack is versatile enough to transport other equipment, such as tool boxes if needed.

Crane operators often haul outrigger pads on and off the fenders and decks of RT cranes while on the job site, leading to unintentional damage of the crane. In addition, lifting outrigger pads in this manner exposes operators to potential back, foot and hand injuries, as RT crane fenders and decks are typically more than 5 feet off the ground.

“The ZeroLift Pad Rack provides a reliable and convenient method to store outrigger pads. It can virtually eliminate lifting injuries because outrigger pads are stored at an easy-to-access height where they can be slid instead of lifted,” said Kris Koberg, CEO of DICA.

Koberg further noted, “Crane owners understandably value any product that helps protect their EMR rating.” Experience Modification Rate (EMR) is used by insurance companies to gauge both past cost of injuries and future chances of risk.

For more information about the ZeroLift Pad Rack, visit dicausa.com or call (800) 610-3422.

MHI Vestas Offshore Wind’s V164-8.0 MW prototype set a new benchmark for power production recently when the turbine produced 192,000 kWh in a 24 hour period, enough to power approximately 13,500 Danish households, demonstrating the full capability of the world’s most powerful wind turbine.

The V164-8.0 MW prototype turbine has broken the record for power production by a wind turbine in a 24 hour period from 6-7 October 2014 when the turbine produced 192,000 kW/h, during steady wind conditions at the test site in Østerild, northern Denmark.  The power produced by the turbine in one day was enough to supply the energy needs of approximately 13,500 Danish households, roughly equivalent to Thisted; a city close to the test centre.

The power production data was measured by Denmark’s Technical University (DTU) who own the Østerild site.

MHI Vestas Offshore Wind’s CEO Jens Tommerup said the record demonstrates the full capacity of the V164-8.0 MW.

“This power production record further underlines both the quality of the technology as well as the skills of the team involved who have been working hard to ensure the turbine is performing according to our testing schedule,” Tommerup said.

The conference program for the Canadian Wind Energy Association’s annual exhibition, to be held from October 27-29, in Montreal, Quebec, will focus on a wide range of topics of interest to Canadian and international wind energy investors, wind farm owners and operators, and many other parties within the wind industry. Topics on the conference bill include: from Canadian market growth and investment opportunities, wind energy project development and operations, wind energy integration and storage, and wind energy as a solution to climate change, among others.

Often called the one-stop shop to learn everything about the Canadian wind energy market, the CanWEA 2014 conference is the country’s largest annual wind energy educational and networking event. It brings together approximately 1,500 industry experts and 150 exhibitors in Canada’s wind energy market to discuss growth opportunities, policy and technology developments and to facilitate networking.

“Canada is one of the world’s leading wind energy markets and has installed, on average, more than 1,000 MW of new wind energy capacity annually over the last five years,” said CanWEA President Robert Hornung. “Visitors to CanWEA 2014 will gain insights into the new investment opportunities that are now emerging in provinces across Canada.”

This year’s conference will include a celebration of the association’s 30th anniversary and multiple educational sessions.

Operations and maintenance will have a dedicated session track, responding to the growing service market. Senior leaders from Suzlon, Boralex, and Kruger Energy will provide key operational insights along with owners, OEM and third party service providers.

Another key focus will be advances in energy storage capacity, which is critical to scaling up worldwide renewables by integrating remote generation sites into the grid. Senior representatives of Energy Storage Ontario, the Wind Energy Institute of Canada, and Hatch Consulting will provide their perspectives on storage, as well as battery technology developments and utility scale applications.

LUDECA, Inc. recently announced the rollout of the new RS5 sensor for the proven OPTALIGN SMART machinery alignment system.

The RS5 sensor is a fast, highly accurate sensor for the mid-range shaft alignment market segment. Its XL HD detector, combined with InfiniRange functionality makes its measurement range virtually unlimited, even over long spans of 10m (33 ft.). Its 5-axis technology allows the sensor to offer simultaneous Live Move tracking in both planes for machine corrections. This allows live monitoring of horizontal and vertical machine corrections at the same time, with the sensor at any rotational shaft position.

The synergy between the new, faster CPU and the MEMS inclinometer ensures a finer and faster acquisition of misalignment data during a Continuous Sweep. Hundreds of measurement readings are automatically taken during shaft rotation, ensuring highly repeatable results even in harsh conditions with vibration and under unfavorable mechanical constraints such as coupling backlash. The RS5 sensor permits highly accurate results to be obtained with as little as 60 degrees of shaft rotation, starting and ending anywhere. Users can easily view and compare results in the results table, which stores readings before starting with alignment corrections.

The integrated ambient light compensation makes accurate measurements possible even in strong, direct sunlight. New battery technology means reduced energy consumption for long laser and sensor runtimes in the field. Finally, the RS5 laser and sensor are fully waterproof, shockproof and dustproof for continuous service in the worst of industrial environments.

For more information, go to: http://www.ludeca.com/prod_optaligsmart-shaft-alignment.php.
 

Reaching a key milestone in the development process, Pattern Energy Group LP announced it has received an Environmental Assessment Certificate for its Meikle Wind project, a 185 MW wind power project located in British Columbia.
“This is Pattern Development’s first project in British Columbia, expanding the Company’s presence to a third province in Canada,” said Mike Garland, CEO of Pattern Development. “We have now received the major environmental approval for this project, which was the last big milestone before arranging construction financing.”
The Meikle Wind project, which has a 25-year power purchase agreement with BC Hydro, is expected to commence commercial operation in late 2016.
Meikle Wind is one of the seven projects on which Pattern Energy holds the right of first offer rights to purchase.

Des-Case Corporation has launched a new line of desiccant breathers called Extended Series — aptly named, as the breathers will help companies extend the life of their lubricants, the life of their equipment, the amount of time between maintenance intervals and, most importantly, maintenance budgets.

The series of four variously-sized breathers addresses a number of industrial needs, bringing greater protection and productivity to tank farms, wind turbines, large gearboxes, as well as applications in both high humidity environments and remote locations.   The line features higher airflow, more moisture adsorbing desiccant, check-valve technology, and longer life.

Though simplistic in appearance, Des-Case desiccant breathers are highly sophisticated filters for industrial lubricants, removing dirt and water from the headspace of equipment.

“These breathers, as well as our other contamination control products and services have for years helped companies around the world detect, prevent and remove contamination from their equipment and plants,” said Brian Gleason, CEO of Des-Case.  “This new development continues our drive to help customers improve lubricant quality, maximize equipment reliability and achieve an entirely new level of performance.”

Contaminants such as dirt and water in industrial lubricants can lead to equipment breakdown if not filtered out, bringing plants to a grinding halt and costing companies both time and money.  

As wet, contaminated air is drawn through the breather, multiple 3-micron polyester filter elements remove solid particulate and the color-indicating silica gel extracts moisture.  When air is expelled from the container, the top foam pad prevents oil mist from contacting silica gel or entering the atmosphere.

The breather is also outfitted with a nylon standpipe and polypropylene oil mist reducer to allow oil mist to coalesce and drain back into the reservoir, rather than compromising the desiccant.  Six umbrella check-valves are located underneath the unit to isolate equipment from ambient conditions — prolonging breather life and protecting system integrity.

Additionally, more desiccant in the Extended Series breathers provides more adsorption capacity and elongates breather life.  The larger capacity accommodates higher airflow and female threaded mountings offer users greater durability, stability, and versatility with a number of adapters.

Klüber Lubrication, a worldwide manufacturer of specialty lubricants, has introduced Klübertemp GR AR 555, a multi-purpose lubricant offering exceptional corrosion protection and high evaporation stability.

Developed for high-temperature applications (up to 250°C) and applications exposed to aggressive media, Klübertemp GR AR 555 is a white, homogeneous long-term grease based on a perfluorinated polyether oil (PFPE) and polytetrafluoroethylene (PTFE). The product is NSF H1 registered. Common applications include pillow blocks/bearings, seals, rotary joints and ball bearing chains, as well as circulating fan bearings in various textile machinery.

Lubricants based on PFPE and PTFE are inert and generally regarded as neutral towards most elastomers and plastics.

For more information, visit www.klueber.com.

Morgan Advanced Materials Electrical Carbon business announces that its quality engineered slip rings, can reduce down time and improve the life of equipment whilst reducing maintenance time and costs. Made with the latest innovations in resin compounds Morgan’s molded slip rings encapsulate all current carrying components, inhibit harmful dust intrusion and contamination, and increase the dielectric strength. They can also be specially engineered to improve airflow, which reduces the amount of thermal build up.

These key benefits make them ideal for use in wind turbines as well as numerous other industrial, traction power and signal transmission applications. Slip rings are offered in a wide range of both standard and customized sizes and designs and can be manufactured in either molded or fabricated versions.

High quality slip ring transmitter systems are available in 1 to 8 rings from Morgan, with outside diameters ranging from 24 to 500 mm and feature high mechanical, thermal resistance and excellent dielectric properties.