Riverstone Holdings LLC (Riverstone) and the management team of Babcock & Brown’s North American Energy Group declares the purchase of the wind development portfolio from Babcock & Brown LP to form Pattern Energy Group LP (“Pattern Energy”). Pattern Energy will be one of the most experienced and best-capitalized development companies in the U.S. renewable energy and transmission industry.

“Our team of highly-experienced renewable energy and transmission experts is excited about continuing our business under a new and well capitalized Pattern Energy,” said Mike Garland, Chief Executive Officer of Pattern Energy. “Pattern Energy will continue using our in-depth industry experience, combined with innovation and science, to deliver the utmost value for our partners and the communities where we work. The combination of experience, capital, and opportunities create a tremendous outlook for our company.”

“Pattern Energy will continue to be on the leading edge of developing efficient financial structures for renewable energy and transmission projects,” said Hunter Armistead, Executive Director of Pattern Energy. “It is exciting to be well capitalized in this current market, which puts the company in a terrific position to grow. We look forward to continuing to develop premier renewable energy projects.”

“We are highly impressed with the extensive renewable energy and transmission experience of the Pattern Energy team and are fully committed to Pattern,” said Chris Hunt, Managing Director of Riverstone Holdings. “We welcome the Pattern Energy team as an important new part of our renewable energy platform in North America.”

Tags: Riverstone Holdings LLC