February 12 (Renewables Now) - Skyline Renewables has finalised the acquisition of a 117-MW portfolio of wind farms from the clean energy arm of New Jersey Resources (NYSE:NJR).
The specific assets are located in the states of Iowa, Kansas, Pennsylvania and Wyoming, the buyer said on Monday, adding that Capital One has become its tax equity partner in the portfolio of four facilities. Plans for the sale by NJR Clean Energy Ventures (CEV) was announced by its parent company in November 2018, which then said it would get USD 208.5 million (EUR 184.8m) from the transaction.
The acquisition is part of Skyline Renewables’ strategy to diversify its portfolio and expand geographically, said CEO Martin Mugica. Following its completion, the partnership between Transatlantic Power Holdings (TPH) and Ardian owns 803 MW of controlled wind turbine capacity. Its first acquisition was the 60-MW Whirlwind Energy project in Texas last March.
CCA Capital advised Skyline Renewables in the tax equity financing.
(USD 1.0 = EUR 0.886)