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UPDATE - Pattern Energy confirms third-party interest

The Mont Sainte-Marguerite Wind power plant. Image by: Pattern Energy (www.patternenergy.com).

August 13 (Renewables Now) - US wind power company Pattern Energy Group Inc (NASDAQ:PEGI) today confirmed it has received third-party interest, but stressed there is no agreement or arrangement for any transaction at this point.

The company responded to recent media reports following a request from the Investment Industry Regulatory Organization of Canada. As previously reported by Bloomberg, Pattern Energy and a financial adviser are exploring the San Francisco-based company’s options, including a sale, after receiving interest from a number of suitors. People familiar with the matter have told the news agency that one of those parties is Brookfield Asset Management Inc (NYSE:BAM) and that the Canadian asset manager is mulling over the possibility of merging Pattern Energy with majority-owned yieldco TerraForm Power Inc (NASDAQ:TERP).

In its statement, Pattern Energy said it is responding to inquiries from interested parties as appropriate, but did not mention Brookfield.

“Pattern Energy has a track record of regularly assessing various types of transactions that may be in the best interests of Pattern Energy and its shareholders, including joint venture arrangements, asset M&A, debt and equity capital transactions, and project debt refinancings,” the company stated.

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Ivan is the mergers and acquisitions expert in Renewables Now with a passion for big deals and ambitious capacity plans.

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