Skyline Renewables acquires additional wind portfolio

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Skyline Renewables has purchased a 117-MW wind portfolio from NJR Clean Energy Ventures (CEV), the clean-energy subsidiary of New Jersey Resources.

The U.S. wind farms are in Iowa, Kansas, Pennsylvania, and Wyoming providing clean renewable energy to major population centers across the country.

“We set out to become a leading North American clean independent energy platform,” said Skyline Renewables President & CEO Martin Mugica. “This latest acquisition marks an important step forward as it diversifies our portfolio geographically, and it marks the first tax equity financing fully negotiated by Skyline Renewables. We are excited to extend our partnership with Capital One as tax equity partner with this portfolio and look forward to further opportunities as we execute our strategy.”

Skyline Renewables will grow its wind portfolio to 803 MW. (Courtesy: Skyline Renewables)

“We are delighted to partner with Skyline Renewables to help them complete this acquisition,” said George Revock, managing director and head of Alternative Energy and Project Finance at Capital One. “This investment is emblematic of Capital One’s commitment to be a leading supplier of financing to the renewable energy sector.”

With this latest acquisition, Skyline Renewables will grow its wind portfolio to 803 MW of controlled capacity since forming the company earlier last year as a partnership between Ardian and Transatlantic Power Holdings. Skyline Renewables announced its first acquisition of Whirlwind Energy, a 60 MW project in Northwest Texas, in March 2018. In September 2018, they acquired Hackberry Wind Farm, a 166-MW farm also in Northwest Texas, and in October 2018 announced the acquisition of Starwood Energy’s 51-percent interest in the Horse Creek and Electra wind farms, both 230-MW projects.

“We are ambitious, nimble, and we have deep industry expertise,” Mugica said. “There are many promising opportunities ahead as we expand Skyline’s reach to different parts of the country with strong clean energy assets that will allow us to actively manage our assets and optimize returns.”

CCA Capital served as advisers to Skyline Renewables to support the tax equity financing.

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