PE-backed Pattern Energy commences $400 mln offering

Pattern Energy Group Inc (NASDAQ: PEGI) (TSX: PEG) will commence an underwritten public offering of up to US$400 million of shares by the company and selling shareholder Pattern Energy Group LP. The offering's underwriters have the option to buy up to an additional 15% of that amount from the selling shareholder to cover over-allotments. The company will use the proceeds for working capital and general purposes, including acquisitions. Based in San Francisco and with an office in Toronto, Pattern Energy owns interests in 11 wind power projects located in the United States, Canada and Chile. Pattern Energy Group LP is backed by U.S. private equity firm Riverstone Holdings.

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