Pattern Energy Closes Financing of Japan's Largest Offshore Wind Power and Storage Project

Full construction begins on Ishikari Offshore Wind with first installation of an 8 MW offshore wind turbine in Japan

ISHIKARI, Japan, Sept. 9, 2022 /PRNewswire/ -- Pattern Energy Group LP (Pattern Energy) and its affiliate in Japan, Green Power Investment Corporation (GPI), announced it has completed financing and begun full construction of its 112 megawatt (MW) Ishikari Offshore Wind project, located approximately three kilometers from the shore of the Ishikari Bay in Hokkaido, Japan. Ishikari Wind will feature a battery storage component with 100 MW x 180 MWh of capacity.

The financing facility was jointly arranged by MUFG Bank, Ltd., Sumitomo Mitsui Banking Corporation, Sumitomo Mitsui Trust Bank, Limited, Mizuho Bank, Ltd., Development Bank of Japan Inc., Societe Generale, and Shinsei Bank, Limited.

"This historic project is Japan's largest combined offshore wind and power storage facility and the first installation of an 8 MW offshore wind turbine in the country," said Mike Garland, CEO of Pattern Energy. "Together with GPI, we have built an in-house team of leading experts in onshore and offshore wind and the Ishikari project is the culmination of more than 15 years of planning. The group of leading financial institutions that is backing this project demonstrates the strong demand for innovative clean power solutions. We look forward to successfully completing construction of this project and bringing a new source of clean and renewable energy to Japan, powered by the strong winds of Ishikari Bay."

"We would like to thank Ishikari city and all the people concerned for their great cooperation in promoting this project," said Mitsuru Sakaki, Director and President of GPI. "We will proceed with construction work while being considerate of the environment, safety, and local communities. It is an honor to promote the creation of clean energy in a manner that protects the cultural values of the region and enhances critical infrastructure of the country."

The Ishikari Offshore Wind project, and accompanying battery storage component, is expected to reach commercial operation in December of 2023. The project has a 20-year power purchase agreement with Hokkaido Electric Power Network, Inc. for 100% of the power output.

Ishikari Offshore Wind will utilize 14 Siemens Gamesa 8.0 MW wind turbines, which are built specifically for offshore use. The SG 8.0-167 DD offshore turbine is designed to meet local codes and standards regarding typhoons, seismic activities, 50 Hertz operation, as well as operation in high and low ambient temperatures. The turbines and its supporting structure (pile foundation, jacket and tower) received ClassNK certification, confirming it meets the stringent technical standards required by the Japanese government to approve construction.

"We look forward to working with Pattern Energy on this excellent opportunity to bring more clean, renewable power into Japan's energy mix," says Marc Becker, CEO of the Siemens Gamesa Offshore Business Unit. "Together with Pattern Energy and GPI, we look forward to providing the numerous economic-, social-, and environmental benefits of offshore wind power to everyone involved with the project."

With the addition of Ishikari Offshore Wind, Pattern Energy has eight renewable energy facilities in Japan either operating or under construction, including three onshore wind power facilities and two solar power facilities in operation, and three wind power facilities under construction.

Green Power Investment Corporation (GPI) is a Japanese developer, owner and operator of renewable energy assets. The founder of GPI, Toshio Hori, was one of the earliest pioneers in renewable energy, having built some of the first large scale wind power projects in Japan, the United States and Europe. GPI is headquartered in Tokyo and has a team of more than 150 professionals covering all areas of expertise necessary to operate and manage a full-scale renewable energy business. GPI's development portfolio totals more than 4 gigawatts of wind capacity, including approximately 1.4 GW MW of wind projects that have FiT certifications. Pattern Energy holds a majority interest in GPI.

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 35 renewable energy facilities that use proven, best-in-class technology with an operating capacity of nearly 6,000 MW in the United States, Canada, Japan, and Mexico. Pattern Energy is guided by a long-term commitment to serve customers, protect the environment, and strengthen communities. For more information, visit patternenergy.com.

Contact:

Matt Dallas
Pattern Energy
917-363-1333
matt.dallas@patternenergy.com

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SOURCE Pattern Energy Group LP