Skyline Renewables will finance and manage the construction of a 250 megawatt (MW) solar project in Central West Texas.
The Galloway I solar project, an 8-minute solar energy project, is expected to be operational by the end of 2021.
“We’re very pleased to be adding such a robust solar project in the dynamic Texas energy market. 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.”Martin Mugica, Skylines Renewables president & CEO.
“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. 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.”Mark Voccola, senior managing director and co-head of Ardian Infrastructure US.
Since the company was founded two years ago, Ardian-backed Skyline Renewables has extend its renewable energy portfolio to more than 1050 MW of managed power with this latest acquisition.
In 2018, Skyline Renewables made their first acquisition of Whirlwind Resources, a 60 MW project in NW Texas, then acquired Hackberry Wind Farm, also in NW Texas, a 166 MW farm.
Later that year, Skyline completed its acquisition of both 230 MW projects, Horse Creek and Electra Wind Farms, both on the ERCOT market. Skyline purchased a 117 MW wind project portfolio based in Iowa, Kansas, Pennsylvania and Wyoming last year.
“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.“Mark Voccola, senior managing director and co-head of Ardian Infrastructure US.
As outlined in its most recent Augmented Infrastructure report, Ardian’s recent solar project in Texas is part of Ardian’s continuing commitment to supporting the energy transition. With a cumulative infrastructure AUM of $15 billion and 50 workers in eight offices across the Americas and Europe, the Ardian Infrastructure team is a world-leading manager of the Infrastructure Fund focusing on the energy and transport sectors.
“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. 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.”Martin Mugica, Skylines Renewables president & CEO.