Pattern Energy’s Sale of its Operations in Chile

Mayer Brown, Garrigues, Orrick and Carey advised on the deal

Pattern Energy Group Inc. (NASDAQ and TSX: PEGI) has entered into an agreement for the sale of the Company’s operations in Chile, which principally consist of its 81 megawatt (“MW”) owned interest in the 115 MW El Arrayán Wind project (“El Arrayán Wind”), to affiliates of Arroyo Energy Investors (“Arroyo”) for which Pattern Energy will receive cash consideration of $67.0 million. This price represents a cash available for distribution (“CAFD”) multiple that is greater than the CAFD multiple for projects the Company has acquired in the past. Pattern Energy also expects to eliminate more than $1.0 million of annual overhead related to managing the business in Chile.

El Arrayán Wind is located approximately 400 km north of Santiago on the coast of Chile. The facility commenced commercial operations in the second quarter of 2014 and approximately 70% of its production is contracted for sale through a long-term fixed-for-floating hedge with Minera Los Pelambres.

The transaction is expected to close within 90 days, subject to customary closing conditions.

Mayer Brown advised Arroyo Energy wiht Robert Goldberg (Picture)

In Chile, Garrigues advised Arroyo Energy with Luis Felipe Merino and Cristóbal Faine.

Orrick advised Pattern with a team including George Humphrey and Ryan Giggs.

In Chile, Carey advised Pattern wiht Felipe Moro, Diego Lasagna, Fernando Noriega, José Luis Enberg, Manuel José Garcés, Nadia Jara and Roberto Villaseca.

Involved fees earner: Felipe Moro – Carey; Fernando Noriega – Carey; José Luis Enberg – Carey; Nadia Jara – Carey; Diego Lasagna – Carey; Manuel José Garcés – Carey; Roberto Villaseca – Carey; Robert Goldberg – Mayer & Brown; Luis Felipe Merino Risopatrón – Garrigues; Cristóbal Fainé Henríquez – Garrigues; George Humphrey – Orrick; Ryan Giggs – Orrick;

Law Firms: Carey; Mayer & Brown; Garrigues; Orrick;

Clients: Pattern Energy Group Inc.; Arroyo Energy Investment Partners LLC;