Canada Pension Plan Investment Board (CPPIB) and Riverstone Holdings have acquired Pattern Energy Group in an all-cash transaction for $6.1 billion.
Pattern Energy has a portfolio of 28 renewable energy projects with an operating capacity of 4.4 gigawatts in the United States, Canada and Japan that use proven, best-in-class technology. Pattern Development has developed, financed and placed into operation more than 4,000 megawatts of wind and solar power projects.
CPPIB and Riverstone will combine Pattern Energy and Pattern Energy Group Holdings 2 under common ownership, bringing together the operating assets of Pattern Energy with the world-class development projects and capabilities of Pattern Development.
The transaction is expected to close by the second quarter of 2020.
Upon the completion of the transaction, Pattern Energy will become a privately held company.
