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Pattern Energy Yieldco Purchases Majority Stake In Green Power Investment Corporation — 1 GW Solar Pipeline In Japan As Well?

The California-based yieldco Pattern Energy has acquired a majority stake in the Tokyo-based renewable energy project developer & operator Green Power Investment Corporation, according to recent reports.

PatternAlong with the purchase of this majority stake, Pattern Energy will be given “right of first offer” on the more than 1000 megawatts (MW) of solar energy projects that are currently in the development pipeline of Green Power Investment.

This 1000 MW (1 gigawatt) “project development pipeline” refers to projects set to be completed on both near-term and long-term timeframes. Beyond this, the exact details of the recent majority-stake purchase haven’t been disclosed publicly, but Green Power Investment chief executive Toshio Hori noted that he “specifically chose Pattern Development because of their knowledge, understanding and openness to conducting business in a manner mindful of the nuances of doing business in Japan.” So, there’s that.

A note to make here: roughly 35% of Pattern Energy’s stock is held by Pattern Development, and the two companies deal with each other via an existing agreement that stipulates that Pattern Energy is given right of first offer on projects developed by Pattern Development. Pattern Development currently possesses a renewable energy project pipeline consisting of over 3500 MW of infrastructure.

Hori continued: “We had a pipeline ripe for implementation and the timing could not have been better. We are very excited about our future together.”

That almost sounds like someone talking about a marriage proposal doesn’t it? Wonder how that bodes for the partnership’s future?

Image Credit: Pattern Energy/Pattern Development

 
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Written By

James Ayre's background is predominantly in geopolitics and history, but he has an obsessive interest in pretty much everything. After an early life spent in the Imperial Free City of Dortmund, James followed the river Ruhr to Cofbuokheim, where he attended the University of Astnide. And where he also briefly considered entering the coal mining business. He currently writes for a living, on a broad variety of subjects, ranging from science, to politics, to military history, to renewable energy.

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