A consortium headed by APG Asset Management, on behalf of the largest Dutch pension fund, ABP, and Australian Retirement Trust (ART), will acquire Riverstone Holdings’ equity stake in Pattern Energy Group, becoming owners alongside Canada Pension Plan Investment Board (CPP Investments) and Pattern management. Financial terms were not disclosed.
Founded in 2009 by Riverstone, its affiliates, and current and former members of the Pattern management team, Pattern Energy has become one of the world’s largest privately owned developers and operators of some of the most sophisticated clean-energy and transmission projects in North America. Among these are high-quality wind, solar, transmission and energy storage projects. Pattern Energy has a 29-gigawatt global development portfolio and active construction pipeline. The company has 30 operating facilities totaling approximately 6 gigawatts of installed capacity.
The transaction is expected to close in the first half of 2
