Pattern Energy — 28 wind+solar parks, 4.4 GW operating in US + Canada + Japan; Pattern Development 4+ GW track record
Pattern Energy enters definitive agreement to be acquired by CPPIB at $26.75/share all-cash — $6.1B EV. CPPIB + Riverstone combine Pattern Energy + Pattern Development under common ownership. CPPIB committed up to $2.6B equity. Closed Q2 2020. Major US/Canada/Japan wind operating IPP take-private.
$6.10B
Deal Value
4,400MW
Capacity
Wind
Technology
CA
Location
Deal Details
- Deal Type
- Corporate M&A
- Seller / Sponsor
- Pattern Energy Group Inc. (NASDAQ: PEGI public shareholders)
- Buyer / Financier
- Canada Pension Plan Investment Board (CPPIB) + Riverstone Holdings (Pattern Development combination)
- Deal Value
- $6.1B EV ($26.75/share all-cash)
- Stage
- Operating
- ISO/RTO
- Multiple
- Source
- CPP Investments
Related Deals
Cordelio Power — 1,550 MW operating and in-construction wind, solar, and storage portfolio + development pipeline
Cordelio Power (CPP Investments) → Pattern Energy
1,550 MW
Pattern Energy Group LP — 5.6 GW developed (incl. SunZia 3.5 GW transmission/wind) + significant US/Canada wind/solar/transmission portfolio
Riverstone Holdings → APG Asset Management (for Dutch ABP) + Australian Retirement Trust (ART)
5,600 MW
SunZia Wind (3,515 MW) + SunZia Transmission (550-mile HVDC, 3,000 MW capacity) — largest clean energy infrastructure project in US history
Pattern Energy Group → Multiple (consortium)
$11B
Hatchet Ridge Wind — Wind project, CA (CAISO). MW not publicly disclosed.
Hatchet Ridge Wind, LLC → Sacramento Municipal Utility District
Alta Wind VIII (150 MW CA) + Windstar (120 MW CA) + Coram (22 MW CA) + Granite Reliable (99 MW NH) — 391 MW operating wind portfolio
Brookfield Renewable Partners → NextEra Energy Partners
$733M
FH Capital acquires 75.1% controlling stake in Jinko Solar (U.S.) Industries Inc. — 2 GW solar module manufacturing facility in Jacksonville, Florida (AllianceFlorida at Cecil Commerce Center, ~650 employees) plus a growing US BESS manufacturing line. JinkoSolar Holding retains 24.9%.
JinkoSolar Holding Co., Ltd. (NYSE: JKS) → FH Capital
$191M (per Nikkei Asia)
Get deals like this in your inbox
Free weekly clean energy deal intelligence. Every Monday.