Riverstone-backed Pattern Energy buys two wind facilities, raises funding in private placement
Pattern Energy, which is backed by Riverstone Holdings, has agreed to acquire two operating wind power facilities: the Henvey Inlet Wind facility in Ontario and the Grady Wind Facility in New Mexico. The purchase price is US$293 million. In addition to the acquisitions, Toronto-based investment firm CBRE Caledon has agreed to invest US$260 million in the San Francisco-based Pattern Energy Group, a renewable energy company. A number of institutional co-investors are also participating in the transaction alongside CBRE Caledon. Pattern will use the capital for general corporate purposes and buying certain operational renewable energy projects developed by Pattern Development. Pattern Energy is listed on the NASDAQ and the Toronto Stock Exchange.
