Pattern Energy closes financing for Green Power Renewable No. 1 Investment fund

Pattern Energy Group LP (Pattern Energy) has closed the financing of a US$515 million fund, Green Power Renewable No. 1 Investment LP (the fund), the largest fund in Japan focused on wind and solar energy investments.

Pattern Energy's affiliate in Japan, Green Power Investment Corporation (GPI), will manage the fund and is also one of its largest investors.  Investors in the fund comprise some of the largest and most respected financial institutions in Japan, including the Development Bank of Japan Inc., which will serve as the anchor investor.

The fund will invest in five renewable energy facilities that were developed, constructed, and are now owned and operated by GPI, including Futtsu Solar, Kanagi Solar, Ohorayama Wind, Otsuki Wind, and Tsugaru Wind. The 122 MW Tsugaru Wind power facility is the largest operating wind farm in Japan.

Pattern Energy has seven renewable energy facilities in Japan, including five in operations and two in construction, totaling 432 MW of capacity.