Orrick Advises Pattern Development on the Sale of a 206 MW Portfolio of Japan Renewable Assets


April.10.2018

日本語:オリック、国内再生可能エネルギー資産206MWのポートフォリオ売却においてパターン・デベロップメントにアドバイス

Orrick advised Pattern Energy Group LP (Pattern Development) and Green Power Investments (GPI) in connection with the approximately $325.5 million sale of 206 megawatts of owned capacity in Japanese wind and solar projects to Pattern Energy Group Inc. (Pattern Energy), including the sale of (i) the 122 MW Tsugaru wind project in the Aomori prefecture, (ii) the 10 MW Kanagi solar project in the Shimane prefecture, (iii) the 29 MW Futtsu solar project in the Chiba prefecture, (iv) the 12 MW Otsuki wind project in the Kochi prefecture and (v) the 33 MW Ohorayama wind project in the Kochi prefecture.  Orrick had previously advised Pattern Development and GPI in the development and financing of each of the above projects. 

Pattern Energy, which is an affiliate of Pattern Development, is an independent power company listed on the NASDAQ Global Select Market and Toronto Stock Exchange. Pattern Energy has a portfolio of 25 wind and solar power facilities, including the five projects referred to above, with a total owned interest of 2,942 MW in the United States, Canada, Japan and Chile.

GPI is a Japanese developer, owner and operator of renewable energy assets. The founder of GPI, Toshio Hori, was one of the earliest pioneers in renewable energy, having built some of the first large scale wind power projects in Japan, the United States and Europe. GPI's development portfolio totals 2.4 GW of wind and solar capacity, including 600 MW of wind projects that have qualified feed-in-tariff contracts in Japan. In 2016, Pattern Development acquired a majority interest in GPI.

The cross-border Orrick team includes partners Yoichi Katayama and Minako Wakabayashi from the Tokyo office and partner Chris Moore from the New York office as well as Of Counsels Inui Yuko and Jae H. Ahn and managing associate Shoji Kentaro and David Gotsill from the Tokyo office and managing associate Walter Alarkon from the New York office.