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(Reuters) – Renewable power producer Pattern Energy Group Inc filed with U.S. regulators on Friday to raise up to $345 million in an initial public offering of common shares.
>The California-based company owns and operates wind power projects and has an interest in eight wind power projects located in the United States, Canada and Chile, representing a combined capacity of 1,041 megawatts.
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Pattern Energy said it expects to benefit from growing demand for renewable sources of energy, amid increasing concerns related to greenhouse gas emissions and increasing prices of fossil fuels.
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Pattern Energy reported net income of $44.3 million and revenue of $58.7 million in the quarter ended June 30. The filing did not reveal how many Class A shares the company planned to sell or their expected price. The company listed BMO Capital Markets, RBC Capital Markets, Morgan Stanley as underwriters to its offering. <
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