Pattern Energy will acquire Cordelio Power, with the transaction expected to close in Q1 2026
Cordelio is wholly owned by CPP Investments, the majority shareholder of Pattern Energy; the transaction will increase CPP’s ownership stake in Pattern Energy
Pattern Energy says this acquisition strengthens its presence and expands its development pipeline across North America
Pattern Energy, a US-based clean energy and transmission infrastructure company, has announced the acquisition of Cordelio Power with its 16 wind, solar, and storage projects in Canada and the US, representing a 1.55 GW operating and under-construction portfolio.
An independent power producer (IPP), Cordelio is wholly-owned by Canada’s Canada Pension Plan Investment Board (CPP Investments), which is Pattern Energy’s majority shareholder. This transaction will increase CPP Investments’ ownership stake in Pattern Energy.
It will also acquire the majority of Cordelio’s wind and storage development projects in key target markets in the US. The transaction is expected to close in Q1 2026.
Cordelio manages a 1.86 GW operating portfolio across the US and Canada and a development growth pipeline of over 18 GW in the US.
The acquisition of Cordelio Power, explains Pattern Energy, will help it expand one of the largest independent clean energy infrastructure platforms in North America.
Pattern Energy CEO Hunter Armistead said that this transaction brings it a complementary portfolio of high-quality assets in attractive markets and will increase its presence and product offerings in the 2 countries.
“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 the Managing Director, Head of Sustainable Energies for CPP Investments, Bill Rogers. “We continue to see strong opportunities in the power sector that will drive long-term value to the CPP Fund.”
Pattern Energy touts a nearly 10 GW operating and under-construction portfolio across 30 facilities in North America. Apart from CPP Investments and Pattern management, Dutch pension fund ABP and Australian Retirement Trust (ART) hold stakes in Pattern Energy through a consortium headed by APG Asset Management (see North America Solar PV News Snippets).
