(Bloomberg) — Pattern Energy Group LP, the closely held
developer associated with Pattern Energy Group Inc., bought a
majority stake of Tokyo-based Green Power Investment Corp. for
an undisclosed sum.
The deal will add as much a 1 gigawatt of projects to
Pattern’s portfolio and expand the development of wind and solar
systems in Japan, San Francisco-based Pattern said Wednesday in
a statement.
“We had a pipeline ripe for implementation and the timing
could not have been better,” Toshio Hori, founder and chief
executive officer of Green Power Investment, said in the
statement.
Pattern Energy Group LP, also called Pattern Development,
owns about 35 percent of Pattern Energy Group Inc. and gives the
unit the first chance to buy the projects it builds.
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Reed Landberg at
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Carlos Caminada, Jim Efstathiou Jr.