Pattern Energy to Acquire Cordelio Power, Expanding Clean Energy Footprint Across North America

Pattern Energy Group and Cordelio Power have entered into a definitive agreement under which Pattern Energy will acquire Cordelio Power, expanding one of the largest independent clean energy and transmission infrastructure platforms in North America.

The acquisition will add a 1,550-megawatt portfolio of operating and in-construction assets to Pattern Energy’s platform. The portfolio includes 16 wind, solar, and energy storage projects located across Canada and the United States. In addition, Pattern Energy will acquire the majority of Cordelio Power’s wind and storage development pipeline in key US markets, along with Cordelio’s team.

Pattern Energy Chief Executive Officer Hunter Armistead said the transaction marks a significant milestone for the company as it responds to rising energy demand across North America. He noted that Cordelio’s assets and experienced workforce complement Pattern Energy’s existing portfolio and strengthen its ability to deliver long-term, reliable, and affordable clean energy infrastructure in both the US and Canada.

Cordelio Power Chief Executive Officer Chris Hind said the two companies share a focus on responsible development and community engagement, adding that the combination would support the delivery of high-quality clean energy projects across a broader range of markets.

The companies said the combined scale and operational expertise of Pattern Energy and Cordelio Power would enhance their ability to develop and operate complex clean energy projects efficiently in a rapidly evolving market.

Commenting on the transaction, Bill Rogers, Managing Director and Head of Sustainable Energies at Canada Pension Plan Investment Board (CPP Investments), said the acquisition strengthens Pattern Energy’s position as a leading clean energy business and brings together complementary teams and portfolios to support accelerated growth. CPP Investments is the sole owner of Cordelio Power and a majority shareholder in Pattern Energy.

The transaction is expected to close in the first quarter of 2026, subject to customary regulatory approvals. The share-based deal will increase CPP Investments’ ownership stake in Pattern Energy upon completion.

Evercore Group L.L.C. acted as exclusive financial advisor to Pattern Energy, while Skadden, Arps, Slate, Meagher & Flom LLP and Osler Hoskin & Harcourt LLP served as legal counsel. JPMorgan acted as financial advisor to Cordelio Power.