Status:  Upcoming/New Filing (updated)

Acquirer:  Public Sector Pension Investment Board (Canada); Vertuous Energy Canada Inc. (Canada)

Acquired:  Panhandle Wind Holdings 2 LLC (US)

Value:  Approximately US$58.8 million

Industry:  Energy

On June 16, 2017, Pattern Energy Group Inc., a renewable energy company with a portfolio of 20 wind power facilities in the United States, Canada, and Chile, entered into several Purchase and Sale Agreements with Vertuous Energy Canada Inc. and Vertuous Energy LLC, both wholly owned subsidiaries of The Public Sector Pension Investment Board, a Canadian pension investment manager overseeing public funds.  (See Pattern Energy Group Inc., Form 8-K, Aug. 14, 2017, SEC Filing.)  One such Purchase and Sale Agreement, executed with Vertuous Energy LLC, was for a 49% indirect interest in Panhandle Wind Holdings 2 LLC, a 181 MW nameplate capacity wind power project located in Carson County, Texas.  (See Appendix C, Purchase and Sale Agreement, Pattern Energy Group Inc., Form 8-K, Ex-10.10, Aug. 14, 2017, SEC Filing.)  CFIUS clearance of the acquisition is a condition to closing.  (See id. at Section 2.5, Schedule 2.5.)

A transaction that involved The Public Sector Pension Investment Board was recently cleared by CFIUS.