Pattern Energy and Cordelio Power have reached a definitive agreement for Pattern Energy to acquire Cordelio Power, an independent power producer operating in Canada and the United States.

The deal will add a 1,550 MW portfolio of operating and under-construction projects, including 16 wind, solar, and storage facilities across both countries. Pattern Energy will also acquire the majority of Cordelio Power’s wind and storage development projects and its operational team.

Hunter Armistead, CEO of Pattern Energy, stated that the acquisition will expand the company’s presence and product offerings in North America, and Chris Hind, CEO of Cordelio Power, emphasized the shared commitment of both companies to responsible project development.

Bill Rogers, Managing Director at Canada Pension Plan Investment Board (CPP Investments), which owns Cordelio Power and is the majority shareholder of Pattern Energy, highlighted that the transaction combines complementary teams and portfolios to support growth and competitiveness in the clean energy sector.

Financial and legal advisory for the deal was provided by Evercore Group LLC, Skadden, Arps, Slate, Meagher & Flom LLP, Osler Hoskin & Harcourt LLP, and JPMorgan. The acquisition is expected to close in the first quarter of 2026, pending regulatory approvals, and will increase CPP Investments’ ownership stake in Pattern Energy.

Source: energyglobal.com