Pattern Energy reaches agreement to sell Japanese assets

Pattern Energy Group LP (Pattern Energy), a leader in renewable energy and transmission infrastructure, announced the sale of its directly held Japanese assets and 100% of its interest in its Japanese subsidiary, Green Power Investment Corp. (GPI), NTT Anode Energy Corporation and JERA Co. The agreement is expected to be finalized by the end of 2023, after the necessary regulatory review in Japan. The terms of the transaction were not disclosed.

This sale marks the conclusion of a successful investment in the Japanese renewable energy market and a partnership between Pattern and GPI. Pattern’s directly held assets include Sumita Tono Wind, Ishikari Offshore Wind and Storage, and Fukaura Wind. Sumita Tono Wind began operating earlier this month and is providing electricity to 47,000 homes in Japan.

Total capacity of 337 MW for GPI

Since Pattern acquired a majority stake in 2015, GPI has become one of the largest independent renewable energy platforms in Japan, with a team of over 200 professionals with extensive experience and knowledge of renewable energy operations. GPI owns and operates six renewable energy facilities with a total capacity of 337 MW, as well as two projects under construction with a total capacity of 192 MW, including the largest combined offshore wind and storage project in Japan.

The sale of these assets and Pattern’s interest in GPI will allow NTT Anode Energy Corporation and JERA Co. to strengthen their presence in the Japanese renewable energy market and expand their portfolio of assets. The transaction represents an important milestone for Pattern Energy as it continues its strategy of growth and maximizing shareholder value.

In conclusion, the sale of Pattern Energy’s Japanese assets and its interest in GPI to NTT Anode Energy Corporation and JERA Co. marks the end of a successful partnership and consolidates their position in the Japanese renewable energy market. This transaction demonstrates the continued commitment to the development of clean energy in Japan and opens the door to new opportunities in the green energy sector.