Skyline Renewables, an independent clean energy platform, is acquiring private investment firm Starwood Energy Group Global’s 51% interest in the Horse Creek and Electra wind farms in Texas.
Horse Creek and Electra, located in Haskell and Wilbarger counties and constructed by Starwood Energy, began operations in late 2016. Each project totals 230 MW and comprises 100 GE 2.3 MW turbines. Both also include long-term hedges.
Skyline will manage the portfolio after the transaction closes, anticipated later this year. Terms of the transaction were not disclosed. This deal follows Starwood’s sale of a 49% interest in the wind farms to MEAG, Munich Re’s asset manager, in 2017.
“This transaction is the culmination of many years of work by the Starwood team to develop these high-quality energy infrastructure assets and create value for our limited partners,” says Himanshu Saxena, CEO of Starwood Energy.
With this acquisition, Skyline Renewables will grow its wind portfolio to 686 MW of controlled capacity. The company was formed earlier this year as a partnership between Ardian and Transatlantic Power Holdings. Last month, Skyline Renewables announced its acquisition of two Texas wind projects, the 60 MW Whirlwind Energy facility and the 166 MW Hackberry Wind Farm.
“This is a very important step in our goal to become a leading independent clean energy platform with great assets that are well-positioned to take advantage of changing dynamics in the renewable energy industry,” says Martin Mugica, president and CEO of Skyline Renewables.
