Image: Cordelio Power

Renewable energy developer Pattern Energy has entered into a definitive agreement to acquire independent power producer (IPP) Cordelio Power, further expanding its footprint across North America’s clean energy market.

The acquisition includes a portfolio of approximately 1.5 GW of operational and under-construction assets in the United States and Canada. The portfolio comprises 16 solar, wind, and energy storage projects. In addition, Pattern Energy will acquire the majority of Cordelio’s wind and energy storage projects currently under development in the US, along with the Cordelio Power management and development team.

Cordelio Power operates assets across six US states—Arizona, Arkansas, Colorado, Illinois, Missouri, and Nevada—and has additional projects in development in several other states. Notably, the company is developing 17 solar PV projects in New York State, some of which secured contracts with the state in 2024.

“Pattern’s acquisition of Cordelio represents a logical next step in strengthening a leading clean energy business, bringing together more resources and solutions to meet the growing energy demand across North America,” said Bill Rogers, Managing Director and Head of Sustainable Energies at Canada Pension Plan Investment Board (CPP Investments).

Cordelio Power is wholly owned by CPP Investments, which is also the majority shareholder of Pattern Energy. The companies stated that the share-based transaction will increase CPP Investments’ ownership stake in Pattern Energy upon completion.

The transaction is expected to close in the first quarter of 2026, subject to customary regulatory approvals.