Pattern Energy Shuts Financing of Largest Wind & Solar Power Fund in Japan

Jan 20, 2021 05:43 PM ET
  • Pattern Energy Group LP (Pattern Energy) has actually revealed that it has actually shut the financing of a USD 515 million fund, Green Power Renewable No. 1 Investment LP (the fund), the largest fund in Japan focused on wind as well as solar power investments.
Pattern Energy Shuts Financing of Largest Wind & Solar Power Fund in Japan

Pattern Energy's affiliate in Japan, Green Power Investment Corporation (GPI), will certainly handle the fund and is also among its biggest capitalists. Financiers in the fund make up some of the largest as well as most reputable financial institutions in Japan, consisting of the Development Bank of Japan Inc., which will work as the anchor capitalist.

The fund will buy 5 renewable energy facilities that were established, built and are now had and operated by GPI, including Futtsu Solar, Kanagi Solar, Ohorayama Wind, Otsuki Wind, and also Tsugaru Wind. The 122 MW Tsugaru Wind power center is the biggest operating wind farm in Japan.

" This pioneering new fund will certainly help us increase our development in Japan via partnering with these significant Japanese establishments on some interesting brand-new onshore and also overseas wind projects," claimed Mike Garland, CEO of Pattern Energy. "The strong financier need for this brand-new fund shows both the confidence in our business design and the compelling future development opportunities in our Japanese pipe. Along with our partner, GPI, we have actually developed one the most effective growth pipes in Japan consisting of more than 2.4 gigawatts of renewable energy projects."

Pattern Energy has 7 renewable resource facilities in Japan, consisting of five in operations as well as two in building and construction, completing 432 MW of capability.