Skyline Renewables has purchased a 117 MW U.S. wind portfolio from NJR Clean Energy Ventures (CEV), a clean energy subsidiary of New Jersey Resources.
The wind farms are located in Iowa, Kansas, Pennsylvania and Wyoming. Capital One served as a tax equity partner in the transaction.
With this latest acquisition, Skyline Renewables will grow its wind portfolio to 803 MW of controlled capacity. The company formed last year as a partnership between Ardian and Transatlantic Power Holdings.
Skyline Renewables announced its first acquisition in March 2018, the Whirlwind wind farm in Texas. In September, it acquired the Hackberry Wind Farm, a 166 MW project also in Texas, and in October, it announced the acquisition of Starwood Energy’s 51% interest in the Horse Creek and Electra wind farms, both 230 MW projects in Texas.
“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,” notes Martin Mugica, president and CEO of the company. “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.”
CCA Capital served as advisor to Skyline Renewables to support the tax equity financing.