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Pattern Energy sells Japanese assets

Renewable energy producer Pattern Energy announced it has entered an agreement for the sale of its directly owned Japanese assets and 100% of its interest in its affiliate in Japan, Green Power Investment Corp. (GPI), to NTT Anode Energy and JERA. Terms of the transaction were not disclosed.

Image: PixabayImage: Pixabay

Since Pattern acquired majority ownership in 2015, GPI has grown into one of the largest independent renewable platforms in Japan with a team of over 200 professionals. Pattern’s directly owned assets include the wind farms Sumita Tono Wind, Ishikari Offshore Wind and Storage, and Fukaura Wind. Sumita Tono Wind began operation earlier this month and is providing power to 47,000 households in Japan. GPI owns and operates six renewable energy facilities totaling 337 MW, two projects under construction totaling 192 MW, including the largest combined offshore wind and storage project in Japan.

“Our partnership with GPI was a tremendous success and has grown into a leading renewables business in Japan,” said Hunter Armistead, CEO of Pattern Energy. “As the Japanese market continues to evolve, we saw the need for more of a local force, with deep connections, to partner with GPI and drive the business forward. The timing was right for all parties to make this happen. NTT Anode and JERA are ideal partners for GPI that can continue to build upon the strong foundation we’ve worked together to establish.”

Pattern Energy
Windfair Editors
Pattern Energy, Jera, GPI, Japan, asset, wind farm, offshore, onshore, storage, energy, electricity, renewables

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