October 1 (Renewables Now) – Skyline Renewables said last week it has acquired the 166-MW Hackberry wind park in Texas from Renewable Energy Systems Americas (RES America) for an undisclosed sum.
The wind farm in question is located in Shackelford county, Northwest Texas, and has been generating electricity since 2008. It uses 72 wind turbines, the output of which is sold under a power purchase agreement (PPA) with the City of Austin. During the transfer of the plant’s ownership, RES will continue to oversee the operations of the facility.
This is Skyline Renewables’ second power generation asset after it bought the 60-MW Whirlwind project in Texas in March. The acquisition includes a clean-up of the existing capital structure of the project, including the buyout of tax equity interests from GE Energy Financial Services and cash equity interests from RES. A restructuring of the project’s debt is also part of the transaction.
Skyline Renewables was formed earlier in 2018 as a partnership between Ardian and Transatlantic Power Holdings with the aim of acquiring operational and under-development wind power assets. The purchase is in line with its goal to become “a leading North American clean independent energy platform,” said CEO Martin Mugica. It will provide the company with a “robust foothold” in Texas and will facilitate its expansion in the near future, he added.