What Cordelio Power does

Cordelio Power is a Toronto-headquartered independent power producer that develops, owns, and operates utility-scale wind, solar, and battery energy storage projects across the United States and Canada. The company originated as a vehicle of the Canada Pension Plan Investment Board (CPP Investments), which held 100% ownership prior to Pattern Energy's April 2026 acquisition. Cordelio manages an operating portfolio exceeding 1,860 MW of renewable assets with an 18,000 MW development pipeline, organized across offices in Toronto, Vancouver, New York, Chicago, and Portland, ME. Projects span wind farms in Illinois, Arkansas, and Ontario; solar facilities in Missouri, Arizona, New York, and Ontario; and battery storage systems in Washington and Arizona.

The company's go-to-market is built on three pillars: (i) multi-year land lease assembly with agricultural landowners, (ii) long-term (15-20 year) power purchase agreements with corporate buyers such as Microsoft and utilities such as Puget Sound Energy, and (iii) project-level capital structuring via construction loans and tax equity commitments from a diversified syndicate of financial institutions including JPMorgan, U.S. Bank, MUFG, SMBC, RBC, and CoBank. Co-development arrangements (a former joint venture with BrightNight covering approximately 6 GW and a continuing 51/49 Canadian partnership with Axium Infrastructure) and technology partnerships with Fluence Energy (Gridstack Pro storage) and Qcells (US-manufactured solar modules) round out the operating model.

Revenue flows through fixed-price PPA contracts (subscription-like recurring revenue) augmented by tax equity financing economics on individual projects. Project-specific pricing is not publicly disclosed. The company was acquired by Pattern Energy in April 2026, with BrightNight separately acquiring Cordelio's interest in their western U.S. joint venture the same month, consolidating the company's assets into larger North American IPP platforms.

Name

Cordelio Power

Legal name

Cordelio Power

Website

https://cordeliopower.com

Company type

Private

Founded year

2020

Operating status

Acquired

Headcount range

101–250 employees

Short description

Cordelio Power is a Toronto-based independent power producer, wholly owned by CPP Investments until its April 2026 acquisition by Pattern Energy, that develops and operates utility-scale wind, solar, and battery storage projects across North America under long-term PPAs with corporate buyers and utilities.

Ownership category

akta.pro rank

Product category

Renewable Energy Generation

NAICS

Wind Electric Power Generation (221115), Solar Electric Power Generation (221114), Electric Power Generation (22111), Electric Power Generation, Transmission and Distribution (2211)

SIC

Electric Services (4911)

akta.pro primary industry

Permitting, Environmental & Stakeholder Engagement (EIA/ESIA, Community Relations) (EUAMAAAB)

akta.pro secondary industries

Utility-Scale Generator PPAs (Project Offtake) (EUAGADAB), Hybrid PPAs (Renewables + Storage) & Firm Renewable Products (EUAGADAI), Project Finance & Capital Structuring (Debt/Tax Equity/Project Bonds) (EUAMAAAD), Contracted Wind Power Generation (PPA/CFD/FiT-backed) (EUACAFAJ)

Keywords

• Renewable energy development
• Wind power generation
• Solar power projects
• Battery energy storage
• Power purchase agreements

Headquarters

HQ city

Toronto

HQ country

Canada

HQ region

North America

Offices5 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Infrastructure, Operations, Personnel, Supply Chain, Others

Revenue model

1. Power Purchase Agreements: Long-term contracts to sell electricity generated by wind, solar, and storage projects to utilities and corporate buyers such as Microsoft under 15-20 year agreements.
2. Tax Equity Financing: Projects attract tax equity investments from financial institutions like JPMorgan Chase and U.S. Bank, providing upfront capital in exchange for tax benefits.
3. Construction Loans: Project financing through construction loans from multiple financial institutions during development phase, typically converted to term financing upon commercial operations.

Go-to-market motion3 records

Distribution channels2 records

Marketing channels5 records

Core offering

Cordelio Power is an independent power producer that develops, owns, and operates utility-scale renewable energy facilities including wind farms, solar projects, and battery energy storage systems across the USA and Canada. The company generates revenue through long-term Power Purchase Agreements (PPAs) with utilities and large corporate buyers, and finances projects through construction loans and tax equity commitments from financial institutions.

Product overview

Cordelio Power is an independent power producer (IPP) operating across Canada and the United States. The company develops, owns, and operates renewable energy projects including wind farms, solar installations, and battery energy storage systems. Operating portfolio exceeds 1,860 MW across North America with an 18,000 MW development pipeline. Projects include utility-scale wind projects (Crossover Wind, Glacier Sands, Moraine Sands), solar projects (Flat Creek Solar, Winfield Solar, Box Canyon Solar, Moore Solar), and battery storage projects (Greenwater, Pioneer Clean Energy Center). The company was acquired by Pattern Energy in April 2026 and previously operated a joint venture with BrightNight covering large-scale hybrid renewable and storage projects.

Differentiator

Problem solved

Functional benefit

Products and services

• Crossover Wind 135 MW wind project in Cross County, Arkansas featuring 32 Vestas V-163 4.5 MW turbines. The first utility-scale wind project in Arkansas, achieving commercial operations in June 2025 with power sold under long-term agreement.
• Glacier Sands Wind Project 184.9 MW wind project in Mason County, Illinois comprising 43 Vestas V150-4.3 wind turbines. Acquired from Swift Current Energy in 2020, with 100% of power sold to Microsoft under 15-year contract.
• Moraine Sands Wind Project 171 MW wind project in Mason County, Illinois, financed with $301 million construction loan and $157 million tax equity commitment from JPMorgan Chase & Co., with power to be sold to Microsoft under long-term agreement.
• Winfield Solar Project 150 MW solar project in Lincoln County, Missouri using US-manufactured modules by Qcells (Hanwha), designed and built by Qcells with 15-year power purchase agreement with Microsoft.
• Flat Creek Solar Up to 300 MW solar facility proposed in Towns of Root and Canajoharie in Montgomery County, New York. Received final siting permit from ORES in April 2026.
• Greenwater Energy Storage Project 200 MW/800 MWh battery energy storage system in Pierce County, Washington, providing grid services and firm capacity to Puget Sound Energy. Financed with approximately $400 million from multiple banks including RBC, Credit Agricole, and CoBank.
• Pioneer Clean Energy Center 300 MW solar combined with 300 MW/1,200 MWh battery storage in Yuma County, Arizona. Uses Fluence Energy's Gridstack Pro solution with US-made components. Expected commercial operation April 2027.
• Box Canyon Solar 300 MW solar project in Pinal County, Arizona, achieved commercial operation in June 2025 in partnership with BrightNight and Southwest Public Power Agency.
• Moore Solar Energy Centre 20 MW solar project in St. Clair township, Ontario developed and constructed by First Solar. Owned 51% by Cordelio Power and 49% by Axium Infrastructure, operated by NextEra Energy.
• Jericho Wind Energy Centre Up to 149 MW wind project in Lambton and Middlesex Counties, Ontario. Owned 51% by Cordelio Power and 49% by Axium Infrastructure, operated by NextEra Energy.
• Summerhaven Wind Energy Centre Up to 124 MW wind project in Haldimand County, Ontario. Owned 51% by Cordelio Power and 49% by Axium Infrastructure, operated by NextEra Energy.
• Bluewater Wind Energy Centre Up to 60 MW wind project in Bluewater Township, Ontario, powering approximately 15,000 homes. Owned 51% by Cordelio Power and 49% by Axium Infrastructure, operated by NextEra Energy.
• Conestogo Wind Energy Centre Up to 23 MW wind project in Wellington County, Ontario. Owned 51% by Cordelio Power and 49% by Axium Infrastructure, operated by NextEra Energy.
• Lenawee Wind Project Over 250 MW wind project in development in Lenawee County, Michigan. Expected to host approximately 60 wind turbines.
• Tupper Lake Wind Project Up to 198 MW wind project in development in Ionia County, Michigan. Expected to host 44-47 wind turbines ranging 4.3-4.5 MW each.
• Firebrick Wind Project Up to 380 MW wind project in development in Audrain County, Missouri. Expected to host 70-95 wind turbines between 4-5.5 MW each.
• Rock Bluff Energy Park Multi-technology facility in Henderson County, Kentucky incorporating solar PV on reclaimed coal mine lands, wind turbines, and potential grid-scale battery storage. Developed in collaboration with Tenaska.

Quantifiable outcome

• First utility-scale wind project in Arkansas
• +2 more outcomes

Named customers3 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Six partnerships are on record, tiered core, major and secondary.

• BrightNightcoreStrategic or Co-development Partner · 21 April 2026Joint venture established in 2020 for renewable energy development across western US markets. The partnership developed a combined 15 GW pipeline with 1.1 GW in operations or construction. BrightNight acquired Cordelio's stake in April 2026, taking full control of 6 GW of projects.
• Pattern EnergycoreOthers · 2 April 2026Pattern Energy completed acquisition of Cordelio Power in April 2026, adding 1,550 MW of wind, solar, and storage assets across North America to Pattern Energy's portfolio.
• Fluence EnergymajorTechnology or Integration · 15 January 2026Battery energy storage technology supplier providing Gridstack Pro solutions for projects including Pioneer Clean Energy Center (300 MW/1,200 MWh in Arizona) and Greenwater (200 MW/800 MWh in Washington). Multi-year partnership for 1 GWh of domestic battery storage deployment starting 2026.
• Axium InfrastructuremajorStrategic or Co-development PartnerCo-ownership arrangement (51% Cordelio, 49% Axium) for Canadian wind and solar projects including Bluewater (60 MW), Conestogo (23 MW), Jericho (149 MW), Summerhaven (124 MW), Moore (20 MW), and Sombra (20 MW). Projects operated by NextEra Energy Canadian Operating Services.
• TenaskasecondaryStrategic or Co-development PartnerCollaboration on Rock Bluff Energy Park development in Henderson County, Kentucky, a multi-technology clean energy facility incorporating solar, wind, and battery storage.
• Qcells (Hanwha)majorTechnology or IntegrationModule manufacturer and EPC contractor for Winfield 150 MW solar project in Missouri, using US-manufactured solar modules. Qcells received $1.45 billion DOE loan for Georgia manufacturing expansion.

Scale indicators9 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Avangrid Renewables: US-based IPP owned by Iberdrola, operating utility-scale wind and solar farms across multiple states. Comparable project mix and PPA-driven revenue model.
• Pattern Energy Group: Cordelio's acquirer and a directly comparable IPP with utility-scale wind, solar, and transmission assets across North America. Both develop, own, and operate renewable projects with corporate and utility offtakers.
• BrightNight: Former JV partner with Cordelio (acquired Cordelio's stake in 2026); develops hybrid renewable-plus-storage projects across the western US, including Box Canyon and Pioneer.
• Apex Clean Energy: US-based developer of utility-scale wind, solar, and storage projects with multi-gigawatt pipeline. Similar development-stage-to-COD business model.
• NextEra Energy Resources: Largest North American wind and solar developer and operator; provides O&M services to Cordelio's Canadian projects through NextEra Energy Canadian Operating Services. Operates under similar PPA-based IPP model.
• Clearway Energy: Yieldco-style renewable IPP with wind, solar, and storage assets across the US. Comparable contracted cash flow profile through long-term PPAs.
• Invenergy: Privately-held US IPP developing and operating utility-scale wind, solar, and storage projects. Similar focus on long-term PPAs with corporate and utility offtakers.
• Brookfield Renewable Partners: One of the largest publicly-traded renewable IPPs with operating wind, solar, and storage across North America. Similar long-duration PPA revenue model and project finance approach.
• Engie North America: Major renewable energy developer with significant US wind, solar, and battery storage portfolio. Competes in same corporate PPA and utility RFP markets.
• EDF Renewables North America: Subsidiary of EDF developing wind, solar, and storage projects across the US. Competes for similar corporate PPA mandates including with hyperscalers.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/cordelio-power-inc

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Subsidiaries1 record

Funding overview

Funding rounds5 records

Investors12 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Cordelio Power