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Pattern Energy invests $60M in Pattern Development 2.0

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Pattern Energy invests $60M in Pattern Development 2.0

Pattern Energy Group Inc. invested an initial $60 million capital call in Pattern Energy Group Holdings 2 LP, or Pattern Development 2.0., as part of the company's strategic initiatives to boost its long-term growth outlook and enhance access to capital.

The investment, which represents Pattern Energy's 20% interest in Pattern Development 2.0, ensures access to an exclusive project pipeline. Pattern Energy also holds the right to fund an additional $240 million for Pattern Development 2.0.

Pattern Development 2.0 will focus on wind, solar, transmission and storage projects in the U.S., Canada and Mexico.