Pattern Energy Announces Closing of Equity Investment from Consortium Headed by APG and ART

Pattern Energy Group LP (Pattern Energy), a leader in renewable energy and transmission infrastructure, announced that a consortium headed by APG Asset Management N.V. (APG), on behalf of the largest Dutch pension fund, ABP, and Australian Retirement Trust (ART) closed on Riverstone Holdings LLC’s (Riverstone) equity stake in the company. The previously announced investment has received all required approvals, and the consortium is now an owner in Pattern Energy alongside Canada Pension Plan Investment Board (CPP Investments) and Pattern management. Financial details were not disclosed.

“Pattern is significantly strengthened by APG’s and ART’s financial backing and their supplemental growth capital, further positioning the company to meet critical and rapidly growing energy demand across North America,” said Hunter Armistead, CEO at Pattern Energy. “Our new partners value Pattern’s commitment to building reliable energy infrastructure while creating jobs and investing in rural communities as we advance our vision to Power the Future.”

“This investment in Pattern supports our client’s ambition to realize attractive, stable returns while making progress toward cleaner, more resilient energy infrastructure," said Steven Hason, Head of Americas Real Assets at APG Asset Management US Inc. “Partnering with Pattern and our new stakeholders reinforces our strategy to deliver long-term value while making a real difference day after day.”

“Our partnership with Pattern demonstrates our efforts to advance renewable energy infrastructure,” said Michael Weaver, General Manager, Mid Risk Assets & UK at ART. “This investment strengthens our expanding sustainable energy portfolio, aligning with our responsibility as a leading global investor. We are confident it will deliver lasting value for our 2.4 million members while supporting our Net Zero 2050 Roadmap.”

“As one of the founding equity partners in Pattern, we take pride in fostering the tremendous growth and innovation at the company over the past 16 years, and we are confident that Pattern is well-positioned for continued success,” said Yakov Tsveig, Principal of Riverstone.

Founded in 2009 by Riverstone, its affiliates, and current and former members of the Pattern management team, Pattern Energy has become one of the world’s largest privately-owned developers and operators of some of the most sophisticated clean energy and transmission projects in North America.

Evercore Group L.L.C. served as exclusive financial advisor and Vinson & Elkins served as legal counsel to Riverstone in connection with this transaction. Sidley Austin LLP served as legal counsel to the buyer consortium.

Pattern Energy | www.patternenergy.com

APG | www.apg.nl