Pattern Energy Group Inc. (Nasdaq: PEGI) said its Pattern Energy Group LP (Pattern Development) subsidy acquired a majority stake in a Japanese investment corporation.
Pattern Development acquired the stake in Green Power Investment Corp. Terms of the deal were not disclosed. The deal includes up to 1,000 MW of near and longer term projects in development and helps to expand wind and solar project developments in Japan while reducing reliance on imported fossil fuels.
Pattern Development owns 35 percent of Pattern Energy, which has the right of first offer to acquire projects developed by Pattern Development.
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