Power the Future
Each year brings new challenges and milestones—but 2024 stands out as perhaps the most transformative in Pattern Energy’s history. As we marked our 15th year as a company, we demonstrated our ability to scale, evolve, and lead in an era where meeting energy demand has never been more urgent or more complex.
We began this company with the bold idea that it was possible to build a values-driven energy company that could do big things and do them the right way. Fifteen years later, we have proven that idea can endure, grow, and power remarkable achievements. In 2024, our legacy came into clearer focus. We can see and measure it, and we took time to celebrate it.
We achieved a number of milestones as construction progressed on our SunZia Wind and Transmission project. When complete, SunZia will be the largest clean energy infrastructure project in U.S. history. The work happening now across New Mexico and Arizona is a powerful demonstration of the three pillars of our Power the Future vision: Drive the Market, Advance Together, and Excel in Execution.
SunZia is not just a project—it’s proof that Pattern has become an enterprise capable of developing and delivering infrastructure at a historic scale. To deliver this project, we had to level up in every area including engineering, transmission planning, community engagement, environmental responsibility, financing, energy trading, procurement and project execution, to name a few. We’ve worked alongside environmental organizations, such as the National Audubon Society, and with landowners, Tribal representatives, and public agencies to minimize impacts and raise the bar for how clean energy infrastructure is developed and built. This is how we Advance Together.
Another defining moment of 2024 was the transition of ownership from our founding investor, Riverstone Holdings LLC, to a new group of world-class shareholders, including APG Asset Management N.V., on behalf of the largest Dutch pension fund, ABP, and Australian Retirement Trust. This milestone closed one chapter for us. As our steady and trusted partner since our formation, Riverstone helped guide us to the next chapter in our story. With the support of our new investors, we are now positioned to build on that foundation. Pattern is strengthened by their global perspective, long-term commitment, and shared belief in our mission.
As the pace of electrification accelerates, Pattern is investing in the infrastructure needed to build a modern grid. We are leveraging our expertise as we expand our platform of reliable and cost-effective energy resources to meet this growing demand. Our Southern Spirit Transmission project will connect regions, improve reliability, and create capacity in multiple markets, especially across a region where weather instability is increasingly impacting how, when, and where we use electricity.
In 2024, we also continued to invest in our people and leadership. We welcomed Barry E. Davis as Chair of our Board of Directors and Carla Tully as a new director, each bringing critical insights as we scale. We also added experienced leaders to our executive team, including Matt Rhodes as Chief Financial Officer and Holly Adams as Vice President of Origination. These additions reflect our continued focus on building an industry-leading leadership team, while preparing to take on even more complex challenges.
We remain deeply committed to the communities we serve. In 2024, Pattern projects and facilities contributed over $140 million to rural economies across North America through landowner payments, tax revenue, job creation, and community investment. Building trust through transparency, accountability, and partnership remains at the core of who we are.
Fifteen years ago, Pattern launched during a global financial crisis. We were small, scrappy, and driven by the idea to build a better energy future. Today, we are shaping that future by building transformative infrastructure, delivering
meaningful economic benefits, and staying grounded in the values that have defined us since the beginning.
Thank you to all our partners, employees, communities, and stakeholders who helped make 2024 such a defining year. Together, we are building more than projects; we’re building momentum.
Hunter Armistead
CEO, Pattern Energy