CEO Issues Call to Action to Combat Climate Challenge with Sustainable Growth
SAN FRANCISCO, September 20, 2021 — Pattern Energy Group LP (“Pattern”) today released its 2020 sustainability report, highlighting the Company’s commitments, progress, and initiatives in the areas of environmental, social, and governance (ESG). The report details Pattern’s approach and practices on a range of topics following international ESG frameworks, providing both concrete examples and performance metrics.
“The world is transitioning to renewable energy to address the devastation caused by our changing climate. I am proud of Pattern’s role in this transition but there is still more to do,” said Mike Garland, CEO of Pattern Energy. “We are committed to supporting an energy transition for all, and now is the time for action by companies and governments. Together, we can make our world more environmentally, socially and economically sustainable.”
Pattern’s activities contributed more than $90 million to the local economies around its sites in 2020, which supported family ranchers and farmers, public services, and charitable causes.
Pattern expects to grow its operational portfolio by 34% in 2021 compared to year-end 2020. It is also advancing its development pipeline. Through its renewable energy projects and strategic partnerships, the Company currently has more than 8 GW of power in various origination and power marketing stages. Representing billions of dollars in local investments, the economic infusion from this pipeline of projects will generate renewable revenue for families and communities for generations to come.
“The rapid growth of renewable energy makes it incumbent upon us to take on the responsibility of advancing diversity, equity, and inclusion (DEI) in our industry,” added Garland. “We want to foster a fair and equal energy transition that can provide opportunities for people who may have previously been at a disadvantage in entering the renewable energy sector. It is the right thing to do, and we consider it essential to the future of our business and industry.”
Pattern has helped lead the formation of an industry effort to increase training programs for people from transitional communities and underrepresented groups, such as veterans and coal country workers, and expand contracting with local and minority-owned companies.
Pattern is also taking actions within the Company. Working with its Affinity Networks in 2020, Pattern formed an internal DEI Council, published a statement with actionable DEI commitments, and held its first annual Diversity Month to enhance awareness and understanding. Pattern is committed to improving its diversity metrics and supporting a work culture where everyone is empowered and feels they belong.
Pattern experienced adaptation, transformation, and growth in 2020. Its sustainability report details how the Company demonstrated business resiliency, reinforced its safety culture, supported its workforce and communities, managed its risks, and invested in a sustainable future.
Some examples of this effort include:
- Reorganized into a vertically integrated private company, streamlining its governance structure and consolidating its risk profile.
- Reinforced its ongoing dedication to strong governance, sustainability and reporting, including increasing the number of ESG metrics it measures and discloses.
- Kicked off construction activities and closed over $1 billion in financing on the Americas’ largest single-phase renewable energy project; the 1,050 MW Western Spirit Wind project and its accompanying 155-mile transmission line in New Mexico.
- Raised $700 million in capital through the largest U.S. green high-yield bond sale since 2017.
- Partnered with some of Japan’s most respected financial institutions for a “Tokumei Kumiai” financing of its existing Japanese operational fleet with its Japanese affiliate Green Power Investment Corporation.
- Continued using its sustainable practices to produce clean energy, generating 13,630 GWh of electricity, enough to meet the annual needs of 3.2 million people.
By producing energy from the wind and sun instead of burning coal, Pattern prevented 13.7 million metric tons of carbon dioxide emissions and the consumption of 7.4 billion gallons of water.
The report is available for download on the sustainability section of Pattern’s website. There is a comprehensive Disclosures Index outlining Pattern’s alignment with the Global Reporting Initiative Standards, United Nations Sustainable Development Goals, and Sustainability Accounting Standards Board metrics for wind and solar developers.
In August of 2021, Pattern Energy Operations LP received the highest rating (CT-1) from Moody’s Investors Service in its carbon transition assessment (CTA) ratings of electric utilities and power generators. Four components underpin Moody’s forward-looking CTA scores for power generators: 1) current business profile; 2) policy, market, and technology risk; 3) medium-term management response; and 4) long-term resilience. Each component is scored by assessing equally weighted, sector-specific subcomponents.
About Pattern Energy
Pattern Energy is one of the world’s largest privately-owned developers and operators of wind, solar, transmission, and energy storage projects. Its operational portfolio includes 30 renewable energy facilities that use proven, best-in-class technology with an operating capacity of 4.8 GW in the United States, Canada, and Japan. Pattern Energy is guided by a long-term commitment to serve customers, protect the environment, and strengthen communities. For more information, visit patternenergy.com.
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