Pattern Energy Group Inc. (PEGI) was a renewable energy company that owned and operated a portfolio of wind and solar power projects across North America, Japan, and Chile. In 2019, the company was acquired by Canada Pension Plan Investment Board and the Public Sector Pension Investment Board.
As of its most recent financial reports before the acquisition, PEGI reported net income of $61.1 million for the fiscal year ended December 31, 2018, on total revenues of $478.7 million. The company had a market capitalization of over $2.7 billion as of the same date.
Pattern Energy's growth strategy included developing new renewable energy projects, expanding its global presence, and pursuing acquisition opportunities. The company's focus on renewable energy and commitment to sustainability has enabled it to establish a strong presence in the renewable energy industry.
Investing in renewable energy companies like Pattern Energy carries market risks, including the risk of market volatility, changes in government policies and regulations, and competition from other renewable energy providers. Investors should carefully consider these risks before investing in PEGI and consult with a financial advisor to determine if it is an appropriate investment for their portfolio. They should also review the company's public disclosures and financial statements to gain a better understanding of its financial performance and risks.
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