On January 6, 2026, Pattern Energy Group and Cordelio Power announced a definitive agreement for Pattern Energy to acquire Cordelio Power, an independent power producer operating in Canada and the United States. Cordelio, headquartered in Toronto, is wholly owned by Canada Pension Plan Investment Board, which is also the majority shareholder of Pattern Energy. Through the share-based transaction, Pattern Energy acquired a portfolio of approximately 1,550 MW of operating and in-construction assets, comprising 16 wind, solar, and energy storage projects across Canada and the United States, along with the majority of Cordelio's U.S. wind and storage development pipeline in key target markets and Cordelio's team. Because the transaction was structured as a share-based deal, it increased CPP Investments' ownership stake in Pattern Energy upon closing. The acquisition expanded one of the largest independent clean energy infrastructure platforms in North America, strengthening Pattern Energy's scale, development capabilities, and operational depth. The combined platform positions the company to more efficiently deliver complex clean energy infrastructure across the continent. The transaction was subject to customary regulatory approvals and closed on April 1, 2026.

Evercore Group L.L.C. served as exclusive financial advisor to Pattern Energy, while Skadden, Arps, Slate, Meagher & Flom LLP and Osler Hoskin & Harcourt LLP provided legal counsel. JPMorgan acted as financial advisor to Cordelio Power, with McCarthy Tétrault LLP and Latham & Watkins serving as legal counsel to CPP Investments and Cordelio Power. The transaction is expected to close in the first quarter of 2026, subject to customary regulatory approvals.