Orrick Advised Pattern Energy on the Sale of its Japan Assets, One of the Largest Deals Ever for a Renewable Energy Company in Japan

Orrick advised its long-term client, Pattern Energy Group LP, a leader in renewable energy, on the sale of its directly-owned Japanese assets and 100% of its interest in Green Power Investment Corporation (GPI), one of Japan’s leading renewable energy developers and operators, to NTT Anode Energy Corporation and JERA Co., Inc.

The landmark transaction, which closed on August 3, 2023, is widely reported to be Japan’s largest renewables acquisition to date and marks another step in the progress of both the sell-side and buy-side parties towards their respective goals in the renewable energy sector. The cross-border, cross-practice team advised on a variety of questions including antitrust regulations, data protection considerations, and currency hedging. Orrick has been a partner of GPI since its incorporation in 2004 and was also involved in the transaction whereby Pattern first invested in GPI in 2015. Moreover, because Orrick has been involved with all of GPI’s renewable assets from early stages of their development, Orrick was familiar with the history and status of the projects, which enabled Orrick to provide efficient and prompt advice.

The team was led by Minako Wakabayashi and Yuko Inui, supported by Tokyo Energy team members Andrew Hughes, Kentaro Shoji, Gohshun Kawamura, and Naoyuki Fukuda, as well as global cross-practice team members Richard Smith, Nikiforos Mathews, Sulina Gabale, Jeanine McGuinness, Alan Knoll, James Larkin, Peter Connors, John Wolfe, Danielle Mangogna, Sakon Kuramoto, Masao Fujino, Matthew Coleman, and Kane Huang.