NEW YORK, Sept. 27, 2013 (GLOBE NEWSWIRE) -- The NASDAQ OMX Group, Inc. (Nasdaq:NDAQ) announced today that trading of Pattern Energy Group Inc. (Nasdaq:PEGI), a premium independent power company, commenced on The NASDAQ Stock Market on September 27, 2013.
Pattern is a premium independent power company that owns and operates eight wind power projects in the United States, Canada and Chile that use proven, best-in-class technology and have a total owned capacity of 1,041 MW. Pattern is focused on owning and operating power projects that generate stable long-term cash flows in attractive markets with potential for continued growth. Each of its wind projects has contracted to sell all of its energy output, or a majority, on a long-term, fixed-price power sale agreement with a creditworthy counterparty. Pattern has a clear growth strategy with an identified pipeline of renewable energy acquisitions.
"Through its premier leadership and experience, Pattern Energy has become one of the leading independent wind and transmission companies," said Bruce Aust, Executive Vice President, Global Corporate Client Group, NASDAQ OMX. "We are proud to welcome Pattern to the NASDAQ family, and we look forward to a successful and enduring partnership with the company and its shareholders."
Pattern continues an increasing trend of private equity backed IPOs choosing to list on The NASDAQ Stock Market. Other recent private equity backed IPOs include HD Supply, Norwegian Cruise Line Holdings and CDW Corp.
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