Pattern Energy Group has entered into a joint venture with CEMEX Energia to develop 1,000 megawatts of wind and solar projects in Mexico by 2020.
Recent reforms in Mexican energy laws, including a mandate for 35% of generation to come from clean resources by 2024, create significant opportunities for development of Mexico’s substantial wind and solar resources, Pattern said.
Pattern Development owns approximately 25% of Pattern Energy, which has the right of first offer to acquire projects developed by Pattern Development. Pattern Energy maintains a list of identified ROFO projects, which represent near-term acquisition opportunities. The ROFO list represents a portion of Pattern Development’s 4,500MW pipeline of development projects, all of which are subject to Pattern Energy’s right of first offer.