Pattern Energy, a company that develops and operates clean energy and transmission infrastructure, has entered into a definitive agreement to acquire Cordelio Power, an independent power producer in Canada and the U.S.
According to the company, this acquisition will help Pattern Energy to grow its energy portfolio in the U.S. and Canada.
Through this deal, Pattern will acquire a 1,550 MW operating and in-construction portfolio from Cordelio, comprised of 16 wind, solar, and storage projects in Canada and the U.S. The company will also acquire the majority of Cordelio’s wind and storage development projects in key target markets in the U.S., as well as Cordelio’s team.
Cordelio Power is wholly owned by CPP Investments, the majority shareholder of Pattern Energy. This share-based transaction will increase CPP Investments’ ownership stake in Pattern Energy upon closing.
Evercore Group served as the exclusive financial advisor to Pattern, while Skadden, Arps, Slate, Meagher & Flom and Osler Hoskin & Harcourt acted as legal counsel to Pattern in connection with this transaction. JPMorgan acted as financial advisor to Cordelio Power.
The transaction is expected to close in the first quarter of 2026, subject to customary regulatory approvals.
“Pattern and Cordelio share a commitment to responsible development and the communities in which we work,” said Chris Hind, Chief Executive Officer of Cordelio Power. “We look forward to joining with Pattern Energy to deliver high-quality projects with expanded product offerings to support customers across more markets.”
According to Mercom’s 9M and Q3 2025 Solar Funding and M&A report, 76 solar M&A transactions were executed compared to 62 in 9M 2024. The largest transaction was by ONGC NTPC Green, a joint venture between ONGC Green and NTPC Green Energy.
In November, Dispatch Energy, a provider of distributed energy solutions, fully acquired Green Lantern Solar, an integrated provider, developer, owner, and operator of solar photovoltaic assets. The deal enabled the company to add over 64 solar and battery storage projects from GLS, totaling 208.9 MW.
