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The Australia-based B&B has been behind the majority of wind turbine plans in Logan County.
The former B&B North American Energy Group has been renamed Pattern Energy Group LP, but retains its development team which has placed into operation 2,000 megawatts of wind power across 11 states, according to a release from the company.
Pattern Energy also will maintain the current developments that exceed 4,000 megawatts of wind power in 11 states and four countries in addition to several power transmission projects.
Riverstone, which has the world's largest renewable energy private equity fund, is committing $400 million to expand and support the new group's business. Beth O'Brien, spokeswoman for Pattern Energy, said that the purchase is a positive for efforts to bring wind turbines to Logan County.
"All of it is great. It just means that we're infused with capital and we're really excited about it," she said. "We will be able to move forward with our plans."
The move comes despite B&B canceling leases with most holders in Jefferson Township late last year, shifting focus to Monroe Township.
"(We are) still pursuing permitting for a wind farm in Logan County," said Ward Marshall, senior project developer via e-mail. "We are working with state and federal agencies, fleshing out permitting protocols for development."
He did not specify where in the county the company is looking.
Babcock & Brown has been having financial difficulties since late 2008 when prices of its stock plunged over disputes with banks holding the company's debt.
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