The move should leave Pattern Energy as one of the most experienced and best-capitalised development companies in the US renewable energy and transmission industry.
It is an independent, fully integrated energy company that develops, constructs, owns, and operates renewable energy and transmission assets across North America and parts of Latin America. Riverstone is providing the capital required to expand and support Pattern Energy’s renewable energy business, which will be an important growth platform for Riverstone in North America.
Pattern Energy retains the Babcock & Brown North American energy development team, which has successfully developed, financed and placed into operation 2,000 MW of wind power across 11 states. Pattern Energy also maintains the current Babcock & Brown development pipeline that exceeds 4,000 MW of wind power in 11 states and 4 countries in addition to several power transmission projects.
Riverstone, an energy and power-focused private equity firm with the world’s largest renewable energy private equity fund, is committing US$400 million to expand and support Pattern Energy’s renewable energy business.