Pattern Energy, Talen create JV to develop 1.4GW of solar and wind

Share on facebook
Facebook
Share on twitter
Twitter
Share on linkedin
LinkedIn
Share on reddit
Reddit
Share on email
Email
Pattern Energy’s 29MW Futtsu solar project in Japan. Image: Pattern Energy.

Renewables firm Pattern Energy has formed a joint venture (JV) with independent power producer Talen Energy that will develop 1.4GW of utility-scale solar and wind projects in the US over the next five years.

Called PT Energy Transitions, the business will invest approximately US$2 billion to develop, finance, construct and operate the renewable assets. Its initial portfolio consists of six solar projects in Pennsylvania and a hybrid solar-wind facility in the western US.

The JV is an expansion of Talen and Pattern Energy’s first joint development project, Montour Solar One, a 100MW PV plant to be built next to Talen’s 1.5GW Montour coal-fired facility in Pennsylvania.  

Montour is among the fossil fuel plants that Talen announced will cease burning coal by the end of 2025 as part of a shift to more clean energy generation. The company currently has around 13GW of generation assets, the majority of which are coal, oil and gas plants.

For Pattern Energy, the tie-up comes a year after its US$6.1 billion acquisition by Canada Pension Plan Investment Board. Headquartered in California, Pattern’s operational portfolio includes 28 renewables energy facilities in the US, Canada and Japan with a total capacity of 4.4GW.

The partnership with Talen “is a natural fit” that will allow the companies to combine their respective strengths, said Mike Garland, CEO of Pattern Energy. “Our joint venture accelerates our country’s energy transition by utilising Pattern Energy’s leadership in renewable energy development together with Talen’s land position and legacy transmission interconnection assets.”

Pattern is currently constructing the 105MWdc Phoenix Solar Project in Texas, which is expected to be completed in the coming months.

Read Next

January 17, 2022
US independent power producer DESRI is planning to raise up to US$100 million in an initial public offering (IPO) that will see the company listed on the Nasdaq.
PV Tech Premium
January 14, 2022
Raising more than US$1 billion in equity capital in the past year, US independent power producer (IPP) Silicon Ranch is looking to expand its model of developing, owning and operating large-scale PV plants while maintaining a strategy of co-locating projects with regenerative agriculture.
January 13, 2022
Solar developer Invenergy has partnered with US-based investment platform Lafayette Square to form a joint venture (JV) that will develop and operate PV plants primarily serving low- to moderate-income (LMI) communities and areas disproportionately affected by the clean energy transition.
January 12, 2022
A newly launched independent power producer (IPP) from clean energy fund manager Glennmont Partners is to develop a 473MWp portfolio of solar PV plants in Spain.
January 6, 2022
Silicon Ranch has raised US$775 million in new equity capital to help progress on its existing project pipeline, enter new markets and pursue acquisitions.
January 4, 2022
Indian independent power producer (IPP) Azure Power has fully commissioned its 600MW Interstate Transmission System (ISTS) connected solar project allocated by the Solar Energy Corporation of India (SECI)

Subscribe to Newsletter

Upcoming Events

Upcoming Webinars
January 26, 2022
Free Webinar
Solar Media Events
February 23, 2022
London, UK
Solar Media Events
March 8, 2022
London, UK
Solar Media Events
March 23, 2022
Austin, Texas, USA
Solar Media Events
March 29, 2022
Lisbon, Portugal