- Pattern Energy secures investment from the APG and ART consortium, acquiring Riverstone’s stake. The deal will close in 2025.
- The investment will help expand Pattern Energy’s 25 GW renewable energy portfolio and support significant projects like SunZia Wind and Transmission.
- Since its 2020 acquisition by CPP Investments and Riverstone, Pattern Energy has added 5.6 GW of new energy projects.
Pattern Energy Group LP announced a significant investment from a consortium led by APG Asset Management N.V. (APG) and Australian Retirement Trust (ART). The consortium will acquire Riverstone Holdings LLC’s stake in Pattern Energy. Pending regulatory approval, the deal will close in the first half of 2025.
Hunter Armistead, CEO of Pattern Energy, stated the investment will help the company meet growing energy demands. He added that the partnership aligns with Pattern’s development strategy and will support its future growth.
The new funding will allow Pattern Energy to expand its renewable energy and transmission portfolio, which includes over 25 gigawatts of projects across North America. The company currently manages nearly 10,000 megawatts of operational or under-construction capacity.
Pattern Energy’s most significant project under development is SunZia Wind and Transmission. Once completed, it is expected to provide electricity across several states. The project is one of the most critical energy infrastructure initiatives in the United States.
Steven Hanson, Head of Americas Real Assets at APG, explained that the investment fits APG’s focus on infrastructure projects that deliver long-term, stable returns. APG represents the Dutch pension fund ABP.
Michael Weaver, Global Head of Real Assets at ART, said ART’s investment strengthens its global portfolio of tangible assets.
Since CPP Investments and Riverstone acquired Pattern Energy in 2020, the company has added 5.6 gigawatts of new projects. Bill Rogers, Head of Sustainable Energies at CPP Investments, highlighted that the investment helped Pattern Energy achieve significant milestones in the North American market.
Yakov Tsveig, a representative of Riverstone, stated the company’s involvement delivered substantial value for all stakeholders working with Pattern Energy.
Founded in 2009, Pattern Energy has become a leading private developer of energy and transmission projects across North America. The company plans to continue its growth by developing new strategic projects and managing its expanding asset portfolio.
With this new investment, Pattern Energy will strengthen its position in the renewable energy sector and meet the increasing demand for clean, reliable energy across the continent.