Although Pattern Development and Pattern Energy are legally separate with different ownership, we are aligned in leadership, mission, vision, and values. In everything we do, we are guided by our long-term commitment to serving our customers, protecting the environment, strengthening communities, supporting our teams and creating value for our shareholders. Pattern Energy operates utility scale wind and solar facilities throughout the U.S., Canada, and Japan with a portfolio that has almost tripled since going public in 2013.
Pattern Energy is the largest single owner of interests in Pattern Development and has a right of first offer on all projects Pattern Development looks to sell. Together we create opportunities for growth across the spectrum of renewable energy from wind and solar to transmission and energy storage.
Pattern began in 2009 as a renewable energy development startup, offering a compelling risk-reward tradeoff based on our capital access and management expertise. The business grew quickly. As our early projects began operations, we concluded that launching a publicly listed company to own and operate our generation facilities was the best way to pursue our mission of transitioning the world to renewable energy.
In 2013, Pattern Energy held its initial public offering and acquired its first batch of operating assets from Pattern Development, which remained privately held. Since the IPO, the collaboration between our companies has helped Pattern Energy almost triple in size, with more on the horizon. In 2017, Pattern Energy became a minority investor in Pattern Development. Today, our cross-company relationship unlocks unique opportunities for growth and diversity, helping us achieve improved returns for our shareholders while managing our risk.
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