Alternative Energy: PE Investment Underlines US Potential

US energy and power focused private equity firm Riverstone Holdings has announced its purchase of Babcock & Brown's North American Energy Group, a sale which represents both the former's first wind acquisition and the latest asset divestment by Babcock' following the company's entrance into administration in March 2009. Babcock & Brown's North American Energy Group will now be renamed Pattern Energy Group, and though Riverstone has not announced the value of the sale, it has committed to investing US$400mn to expand and support the unit's wind power portfolio. Pattern Energy currently has 4,000MW of wind power projects in the pipeline, located in 11 states in the US and four countries worldwide, and a number of power transmission projects.

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