Skyline Renewables is acquiring the 166 MW Hackberry Wind Farm in northwest Texas from Renewable Energy Systems (RES) Americas.
Located in Shackelford County and established in 2008, the 72-turbine project has a power purchase agreement with the City of Austin.
Skyline says the acquisition entails cleaning up the project’s existing capital structure, including the buyout of tax equity interests from GE Energy Financial Services and cash equity interests from RES, as well restructuring the debt facility. RES will continue to provide operations support for Hackberry during the transition of ownership.
Skyline was launched earlier this year as a partnership between Ardian and Transatlantic Power Holdings. The company focuses on acquiring operating and developing projects in the onshore wind sector. Its first acquisition was Whirlwind, another RES wind farm in northwest Texas.
“As the industry transitions to the end of the [production tax credit] and new corporate tax reforms take effect, Skyline Renewables will continue its strategy to leverage opportunities in today’s renewable energy landscape in order to build a leading platform,” says Martin Mugica, president and CEO of Skyline. “Skyline Renewables looks forward to capitalizing on more exciting opportunities in the near term.”
