PSP Investments buys 49 pct stake in Stillwater Wind Facility

Pattern Energy Group Inc (TSX, Nasdaq: PEGI) has acquired a 35 megawatt owned interest in the Stillwater Wind Facility from Pattern Development. Pattern Energy acquired 51 percent of the class B interests in the Montana wind power facility for about US$23 million. Canada's Public Sector Pension Investment Board (PSP Investments), which agreed last year to co-invest US$500 million in projects acquired by Pattern Energy, took 49 percent of the class B interests in Stillwater. The facility commenced commercial operations in October. Pattern Energy Group LP, Pattern Energy’s main shareholder, is backed by U.S. private equity firm Riverstone Holdings.

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