Riverstone Holdings has acquired Babcock & Brown's North American wind energy group and its development pipeline. The group has been renamed Pattern Energy and has received a $400 million commitment from Riverstone to support and grow the business. Under Babcock & Brown the group developed and placed 2,000 megawatts of wind power. It plans to start construction on projects in California and Illinois soon.
There have been 15 other comparable wind energy related companies that have received private equity investment over the past five and half years, according to the PitchBook Platform. Two thirds of the investments occurred within the past two and a half years, showing the expected increase in attention to renewable energy over the past couple of years. ArcLight Capital Partners has been the most active investor with five investments, including the only other one this year in the sector, which was the acquisition of six wind farms by its portfolio company Terra-Gen Power.