Pattern Energy Enters Japanese Renewables Market

as declared in San Francisco-based independent power producer Pattern Energy Group Inc. is entering the Japanese renewable energy market. The company has announced a series of transactions highlighted by agreements to acquire 206 MW of owned capacity in projects from Pattern Energy Group LP (Pattern Development 1.0) and Green Power Investments (GPI), as well as an additional investment in Pattern Energy Group 2 LP (Pattern Development 2.0) to fund the acquisition of a controlling interest in GPI, a Japanese renewable developer, from Pattern Development 1.0. "These investments represent Pattern Energy's entry into the exciting Japanese renewables market by acquiring a portfolio of projects and by making an additional investment in Pattern Development 2.0 to fund a well-established operating and development management team, GPI," comments Mike Garland, CEO of Pattern Energy. The transactions also include a $27 million investment in Pattern Development 2.0's acquisition of Pattern Development 1.0's controlling interest in GPI. All funding required for the transactions will be provided from available liquidity at Pattern Energy.

Pattern Energy acquires first Japanese projects

They were all owned by one Pattern's development funds, Pattern Development 1.0, and Green Power Investments (GPI), a Japanese renewable developer in which Pattern holds a majority stake. All funding required for the transactions will be provided from available liquidity, Pattern stated. GPI takeoverThe US company will also invest $27 million in its Pattern Development 2.0 fund to buy a controlling interest in GPI from Pattern Development 1.0. GPI has a 2.4GW development pipeline, including 600MW of wind projects that have qualified for feed-in tariff contracts, Pattern stated. Pattern Energy CEO, Mike Garland, said: "These investments represent Pattern Energy's entry into the exciting Japanese renewables market.

Pattern Energy Acquires 206 Megawatts Of Japanese Renewable Energy Projects

as declared in Pattern Energy Acquires 206 Megawatts Of Japanese Renewable Energy ProjectsFebruary 28th, 2018 by Joshua S HillCalifornia-based independent power company Pattern Energy announced this week that it had acquired 206 megawatts worth of Japanese renewable energy projects and has made a move to acquire controlling interest of Japanese renewable energy developer Green Power Investments. Pattern Energy Group announced on Monday that it had completed a series of transactions including the acquisition of a 206 megawatt (MW) portfolio of renewable energy projects consisting of two operating solar projects, one operating wind project, and two wind projects currently under construction. Pattern Energy is purchasing the portfolio from its own development company and Japanese renewable energy developer Green Power Investments (GPI). In addition to the portfolio acquisitions, Pattern Energy also committed to funding the acquisition of a controlling interest in GPI (Pattern Development 2.0), worth an estimated $27 million. "Japan is one of the largest electrical grids in the world and has one of the most robust renewable energy markets.

collected by :Victor Alphen