Davis Polk is advising Pattern Energy Group Inc.’s (Pattern Energy) Conflicts Committee of independent directors in connection with Pattern Energy’s acquisition of the Panhandle 1 wind power project from its majority shareholder, Pattern Energy Group LP, for a consideration of $125 million in cash. Panhandle 1 is being built in Carson County, Texas, and consists of 118 General Electric 1.85 MW wind turbines. Panhandle 1 will, when completed, add 179 MW (or 14%) in owned capacity to Pattern Energy’s portfolio. The acquisition is expected to close upon commencement of commercial operations in June 2014.

Pattern Energy is an independent power company focused on owning and operating power projects with stable long-term cash flows. It owns interests in wind power projects located in the United States, Canada and Chile that use proven, best-in-class technology. Each of Pattern Energy’s projects has contracted to sell all or a majority of its output pursuant to a long-term, fixed-price power sale agreement. Pattern Energy is listed on NASDAQ (PEGI) and the Toronto Stock Exchange (PEG).

The Davis Polk corporate team includes partners John H. Butler, Richard D. Truesdell Jr. and Joseph P. Hadley, and associate Leo Borchardt. Counsel Craig A. Phillips is providing tax advice. Members of the Davis Polk team are based in the New York and London offices.

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