acquisition closed
Pattern Energy expands clean energy portfolio with acquisition of Canadian producer
Clean energy and transmission infrastructure company Pattern Energy completed the acquisition of Canadian independent power producer Cordelio Power this month.
Pattern Energy, which is headquartered in San Francisco and has major operations in Houston, will now own one of the largest independent clean energy infrastructure platforms in North America, according to a release.
Pattern Energy will add approximately 1,550 megawatts of operating and in-construction assets, including 16 wind, solar and energy storage projects across the United States and Canada, as part of the deal. In addition, they have also acquired the majority of Cordelio’s development pipeline in key U.S. markets and members of Cordelio’s team.
“Closing this transaction marks a significant milestone for Pattern Energy as we continue to scale our platform to meet North America’s growing energy needs,” Hunter Armistead, CEO of Pattern Energy, said in the release. “Cordelio brings a highly complementary portfolio of quality assets and a talented team. Together, we are even better positioned to power the future.”
Currently, Pattern Energy’s portfolio includes wind, solar and energy storage projects in over 40 facilities in North America. Pattern Energy had 12,000 megawatts of operating and in-construction capacity before the deal.
The acquisition was first announced Jan. 6, 2025.
“Pattern and Cordelio share a commitment to responsible development and the communities in which we work,” Chris Hind, CEO of Cordelio Power, said in a news release. “We look forward to joining with Pattern Energy to deliver high-quality projects with expanded product offerings to support customers across more markets.”Pattern Energy doubled down on its Houston commercial space in 2023, moving the company's development, meteorological, transmission and energy trading teams to a new office in the Montrose Collective. The company's Operations Control Center is also based in Houston.
Its Houston-based development team was assigned to work on Pattern's SunZia Transmission and Wind project in New Mexico and Arizona, expected to be one of the largest clean energy infrastructure projects in U.S. The project is targeting commercial operations this year, according to Pattern Energy's website.