Skyline Clean Energy Fund Acquires 299 Kilowatt (kW) Solar Energy System
November 5, 2019 Press Releases
Guelph, ON – On Wednesday October 23rd, 2019, the Skyline Clean Energy Fund (SCEF) acquired its 33rd solar asset with the purchase of the Hodgson GM 1 system located in Loyalist, ON.
Each of the solar assets within the SCEF portfolio, including the newly-acquired Hodgson GM 1, a 299 kilowatt (kW) ground-mount system, is backed by a long-term power purchase agreement under an Ontario Government-funded Feed-in-Tariff (FIT) contract or Renewable Energy Standard Offer Programme (RESOP) contract.
The Hodgson GM 1 asset operates under a 20-Year FIT 1 contract, with a remaining term of 14.77 years (as at November 1st, 2019). The asset has an Expected Annual Generation1 of 349.2 megawatt hours (MWh), and an estimated Gross Annual Revenue2 of $154K.
Post-acquisition, SCEF comprises solar energy-producing assets across 26 Ontario cities, with an International Financial Reporting Standard value of more than $60M (as of September 30, 2019). Together, the SCEF portfolio has an Expected Annual Generation1 of 16,249 MWh, with an average of 14.5 years remaining on the contracts.
SCEF continues to seek income-producing clean energy assets under long-term contracts,” said Rob Stein, President of Skyline Energy, the Asset Management company for the SCEF portfolio.
“We’re excited at the opportunities for SCEF’s growth – there are tens of thousands of quality clean energy projects, backed by solid contracts and with proven cash flow, in Ontario alone. We’re continuing to use our network in the Canadian clean energy sector to identify the best acquisition opportunities for the fund.”
The Skyline Energy team’s years of experience in the construction, management, and optimization of clean energy systems continues to be an asset to the SCEF portfolio.
“Our goal is to surface as much value as possible for SCEF’s investor base,” said Stein.
“We’re proud to play a key role in providing this sustainable investment opportunity for investors.”
Visit the Skyline Clean Energy Fund (SCEF) page at skylinewealth.ca to learn more about SCEF as a sustainable investment product that may be a great fit for your investment portfolio.
1 Expected Annual Generation is projected by an independent third-party and is calculated as an expectation of annual output based on analysis of a number of inputs, including historical production, system efficiency, and historical weather data.
2 Estimated Gross Annual Revenue is calculated as: (size of system, measured as kilowatts) x (production factor of system, measured as kilowatt hours generated per kilowatt) x (tariff rate, measured as revenue per kilowatt hour generated)
More from this category:
SCEF enters new community of Strathroy, ON
SCEF continues to build its presence in the Ontario solar energy market by adding another FIT 1 rooftop solar contract to its portfolio