Pattern Energy Group LP (Pattern Energy) has finalised financing of a $515 million fund, Green Power Renewable No. 1 Investment LP. Pattern Energy’s affiliate in Japan, Green Power Investment Corporation (GPI), will manage the fund and is also one of its largest investors. Other investors in the fund also include financial institutions such as the Development Bank of Japan which will serve as the anchor investor. The Japan-based fund will be focused on wind and solar energy investments.

The fund plans to invest in five renewable energy projects which have been developed, are owned and are operated by GPI. These five projects include Futtsu solar, Kanagi solar, Ohorayama wind, Otsuki wind, and Tsugaru wind plants. Among these, the Tsugaru wind power plant has the largest capacity of 122 MW. It is also the largest operating wind plant in Japan. The fund will also help Japan in developing new onshore as well as offshore wind projects.

Pattern Energy is a privately-owned developers and operators of wind, solar, transmission, and energy storage projects. Its operational portfolio includes 28 renewable energy projects with an operating capacity of 4.4 GW in the United States, Canada and Japan. In Japan, Pattern Energy has seven renewable energy facilities, including five in operations and two in construction, totalling 432 MW of capacity. Green Power Investment Corporation (GPI) is a Japanese developer, owner and operator of renewable energy assets. Its development portfolio totals more than 2.4 GW of wind capacity. Pattern Energy holds a majority interest in GPI.