PSP Investments to become Pattern Energy's biggest investor

Pattern Energy Group Inc (NASDAQ, TSX: PEGI) announced several initiatives to increase the San Francisco-based power company's growth outlook and access to capital. They include a new strategic partnership with Public Sector Pension Investment Board (PSP Investments). The deal will see the Canadian pension fund buy a 9.9 percent stake in Pattern, making it the company's largest shareholder. PSP will also co-invest US$500 million in projects acquired by Pattern, including Canada's Meikle and Mont Sainte-Marguerite wind projects. A vehicle managed by Riverstone Holdings will account for most of an additional US$724 million commitment.

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