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Pattern Energy acquires Cordelio Power’s 1.5GW renewables portfolio

PV Tech · last updated

Cordelio currently has operational assets in six US states, including Arizona, Arkansas, Colorado, Illinois, Missouri and Nevada, with other projects in development in other states, including 17 solar PV projects in the state of New York. Some of these projects secured a contract with the state of New York in 2024.

“Pattern’s acquisition of Cordelio represents a logical next step in strengthening a leading clean energy business, bringing together more resources and solutions to meet the growing energy demand across North America,” said Bill Rogers, managing director and the head of sustainable energies for Canada Pension Plan Investment Board (CPP Investments).

Cordelio Power is wholly owned by CPP Investments, which is also a majority shareholder of Pattern Energy. According to the companies, this share-based transaction will increase CPP Investments’ ownership stake in Pattern Energy upon closing.

The transaction is expected to close in the first quarter of 2026, subject to customary regulatory approvals.

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