LONDON, UK / ACCESSWIRE / October 3, 2017 / Pro-Trader Daily takes a look at the latest corporate events and news making the headlines for Pattern Energy Group Inc. (NASDAQ: PEGI), following which we have published a free report that can be viewed by signing up at http://protraderdaily.com/optin/?symbol=PEGI. The independent Energy Company announced on September 30, 2017, measures and updates from the facilities in Puerto Rico and Mexico where operations were hit on account of severe weather incidents. For immediate access to our complimentary reports, including today's coverage, register for free now at:

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Mike Garland, the Company's CEO, announced that they had taken built-in and immediate steps for the safety of staff, family, and communities around them along with the protection and safety of the Company assets. They had initiated the Employee Disaster Management Program along with a contribution to the Habitat for Humanity program in Texas. Preparations were also underway to extend support to Puerto Rico as the recovery was much more difficult than Mexico. Hurricanes in the Southeast and earthquake in Mexico, wildfires in California had brought operations to a standstill with huge losses for life and property.

Operational Updates

The Company reported on the safety of the personnel present in these locations and no was hurt or injured. There were no material damages a result of the hurricanes. The operations team responded effectively and the operations team was coordinating with Puerto Rico Electric Power Authority ("PREPA") to support its efforts to restore power locally. The Company had to evacuate 283 megawatts ("MW") Gulf Wind project in Texas prior to Hurricane Harvey and 101 MW Santa Isabel project in Puerto Rico owing to the Irma and Maria hurricanes.

All employees and families were safe except few personal property damages in Puerto Rico and Texas. The Company offices were closed for more than a week during Hurricane Harvey but continuous monitoring of the Company assets along with evacuating and remote operations during the hurricane. The Company is taking effort for disaster pay, financial assistance, provision of employee assistance program services, and supporting volunteer activities. It is initiating on implementing a matching gift program for the Greater Houston Community Foundation, the Houston Flood Relief Fund, the SPCA of Texas, and Houston Food Bank, and plans to attach similar matching gift programs for select charities benefiting Puerto Rico.

The initial evaluation of 101 MW Santa Isabel project in Puerto Rico showed no damages though checks are on and the Gulf Wind project in Texas also had no damage on the turbines. Efforts are underway to support the high voltage grid to provide much needed power to Puerto Rico.

Financial Updates

The Company in its press release gave reaffirmation on the cash available for distribution ("CAFD") for 2017 to be between $140 million to $165 million. So far, no negative impact is seen on the wind power generation for Q3 due to the natural disasters. This reaffirmation takes into account the long-term average proportionate production of the fleet for the remainder of 2017 with the potential negative impact of the electric grid outage in Puerto Rico. The wind variability decides the projected revenues by which CAFD is expected to be $5 to $11 million for Q3 2017 which is a huge fall from the earlier expected $12 million to $14 million.

Last Close Stock Review

Pattern Energy's share price finished yesterday's trading session at $24.38, advancing 1.16%. A total volume of 1.03 million shares have exchanged hands, which was higher than the 3-month average volume of 673.14 thousand shares. The Company's stock price surged 2.22% in the last three months, 21.96% in the past six months, and 8.40% in the previous twelve months. Additionally, the stock rallied 28.38% since the start of the year. Shares of the Company have a PE ratio of 72.34 and have a dividend yield of 6.89%. The stock currently has a market cap of $2.23 billion.

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