January 07, 2026 [Storage Terminals Magazine]- Pattern Energy Group, a leader in clean energy and transmission infrastructure, and Cordelio Power have announced a definitive agreement under which Pattern Energy will acquire Cordelio Power, an independent power producer operating in Canada and the United States. The acquisition will expand one of the largest independent clean energy infrastructure platforms in North America.
The transaction marks a significant step in Pattern Energy’s growth strategy as it seeks to meet rapidly increasing energy demand across the continent. According to Pattern Energy CEO Hunter Armistead, the acquisition represents a new chapter for the company, strengthening its ability to deliver long-term, affordable and dependable energy infrastructure. He noted that Cordelio brings a complementary portfolio of high-quality assets in attractive markets, supported by an experienced team, and that the transaction will enhance Pattern Energy’s presence and product offerings in both the United States and Canada.
As part of the agreement, Pattern Energy will acquire a 1,550-megawatt portfolio of operating and in-construction assets from Cordelio, comprising 16 wind, solar and storage projects across Canada and the United States. Pattern Energy will also acquire the majority of Cordelio’s wind and storage development projects in key target markets in the United States, along with Cordelio’s team.
Cordelio Power CEO Chris Hind said the two companies share a commitment to responsible development and to the communities in which they operate. He added that joining Pattern Energy will enable the combined organisation to deliver high-quality projects with expanded product offerings to customers across a broader range of markets.
Together, Pattern Energy and Cordelio Power will bring increased scale and operational depth, which are seen as essential for delivering complex clean energy projects reliably and efficiently in the current market environment.
Bill Rogers, MD and head of sustainable energies at Canada Pension Plan Investment Board (CPP Investments), described the acquisition as a logical next step in strengthening a leading clean energy business. He said the combination of complementary teams and portfolios positions the company to compete more effectively, accelerate growth, and meet growing energy demand across North America, while continuing to generate long-term value for the CPP Fund.
Evercore Group L.L.C. acted as exclusive financial advisor to Pattern Energy, with Skadden, Arps, Slate, Meagher & Flom LLP and Osler, Hoskin & Harcourt LLP serving as legal counsel. JPMorgan acted as financial advisor to Cordelio Power.
The transaction is expected to close in the first quarter of 2026, subject to customary regulatory approvals. Cordelio Power is wholly owned by CPP Investments, which is also the majority shareholder of Pattern Energy. Upon closing, this share-based transaction will increase CPP Investments’ ownership stake in Pattern Energy.
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