Pattern Energy Announces Key Strategic Initiatives for Major Expansion of Growth and Capital Opportunities with Pattern Development, Riverstone and PSP Investments

  • Up to $1 billion in new capital commitments for Pattern Development 2.0, including a $60 million minority investment by Pattern Energy (with a right but not an obligation to fund an additional $240 million) and more than $700 million primarily from institutional investors through a Riverstone managed entity
  • Strategic co-investment relationship with PSP Investments, who becomes the largest shareholder in Pattern Energy
  • Pattern Energy to acquire two accretive new dropdown projects with PSP Investments, and sell a partial interest in Panhandle 2 to PSP Investments
  • Pattern Energy to host conference call today, Monday, June 19 at 10:30am ET 


SAN FRANCISCO, California, NEW YORK, New York and MONTRÉAL, Québec, June 19, 2017 – Pattern Energy Group Inc. (NASDAQ and TSX: PEGI) (“Pattern Energy” or the “Company”), Pattern Energy Group LP (“Pattern Development 1.0”), Pattern Energy Group 2 LP (“Pattern Development 2.0” and together with Pattern Development 1.0, “Pattern Development”), Riverstone Holdings LLC (“Riverstone”) and the Public Sector Pension Investment Board (“PSP Investments”) today announced a series of strategic initiatives to significantly increase Pattern Energy’s long-term growth outlook and enhance its access to capital. Collectively, these strategic initiatives position Pattern Energy to capture an increased share of the annual $250 billion global renewable energy market, and support its Pattern 2020 vision to double its portfolio to 5 gigawatts (“GW”) by 2020. All references herein to “$” or dollars are to U.S. dollars. 


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