On January 6, 2026, Pattern Energy Group has entered into a definitive agreement to acquire Cordelio Power, an independent power producer operating in Canada and the United States. The transaction will expand Pattern Energy's clean energy infrastructure platform across North America. Pattern Energy will acquire Cordelio's 1,550-megawatt portfolio comprising 16 wind, solar, and storage projects that are either operating or in construction across both countries. The acquisition also includes the majority of Cordelio's wind and storage development projects in key United States markets, along with Cordelio's operational team.

The transaction is structured as a share-based deal that will increase Canada Pension Plan Investment Board's ownership stake in Pattern Energy upon closing. CPP Investments currently wholly owns Cordelio Power and holds a majority stake in Pattern Energy. Financial terms of the transaction were not disclosed.

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.