Skyline Renewables acquires 8minute Solar Energy’s 250-MW Texas PV project

Skyline Renewables, a North American renewables company, backed by Ardian, a global private investment house, will finance and manage the construction of a 250-MW solar project in Central West Texas. The Galloway I Solar Project, acquired from 8minute Solar Energy, is scheduled for operation by end of 2021.

“We’re very pleased to be adding such a robust solar project in the dynamic Texas energy market,” said Martin Mugica, president and CEO, Skyline Renewables. “This latest project marks another important step forward to becoming a leading North American clean independent energy platform. It helps balance our portfolio’s renewable energy mix, giving us peak power flexibility and diversity within ERCOT and allows us to better assist the market when they need it the most.”

With this latest acquisition, Ardian-backed Skyline Renewables will grow its renewable energy portfolio to more than 1,050 MW of controlled capacity since the company was formed two years ago. Skyline Renewables announced its first acquisition of Whirlwind Energy, a 60-MW project, and Hackberry Wind Farm, a 166-MW project, both located in northwest Texas.

Later that year, Skyline announced the acquisition of Horse Creek and Electra Wind Farms, both 230-MW projects all in the ERCOT market. Last year, Skyline acquired a 117-MW portfolio of wind projects located in Iowa, Kansas, Pennsylvania and Wyoming.

“The Galloway project is an excellent addition to the Skyline portfolio, and the latest example of the Skyline management team’s commitment to building a best-in-class renewable independent power company,” said Mark Voccola, senior managing director and co-head of Ardian Infrastructure US. “We’re happy to partner with Skyline on this transaction, which is emblematic of Ardian’s ongoing commitment to investing in clean energy assets and creating a more sustainable energy market.”

The latest solar project in Texas is part of Ardian’s ongoing commitment to support the energy transition, as outlined in its most recent “Augmented Infrastructure” report. Ardian Infrastructure has $15 billion total assets under management in infrastructure and 50 employees across eight offices throughout the Americas and Europe.

“The successful project financing is further proof that the markets see our strategic position and our partnership with Ardian as a strong foundation for further growth,” Mugica said. “We’ll continue to take this same approach in all parts of the country actively managing our assets to optimize returns and staying nimble yet smart and innovative with our growth opportunities.”

News item from Ardian

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Original Source: https://www.solarpowerworldonline.com/2020/10/skyline-renewables-acquires-8minute-solar-energys-texas-pv-project/