Skyline Clean Energy Fund Acquires 6 Rooftop Solar Assets Across Ontario

January 6, 2020 Press Releases

<h2[Guelph, ON – December 23, 2019]

On December 23, 2019, the Skyline Clean Energy Fund (SCEF), acquired a portfolio of rooftop solar assets. The assets are located in Vaughan, Brantford, and Whitby, ON.

The total purchase price of the portfolio was $12.48 million (equity of approximately $3.05 million; debt of approximately $9.43 million).

Each of the solar assets within the SCEF portfolio – including the newly-acquired six rooftop assets, which total 2.43 MW/DC1 – 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.

Each of the assets in the newly-acquired portfolio operates under 20-Year FIT 1 contracts; together, they have a weighted-average remaining term of 14.85 years (as at January 1, 2020). The portfolio has an Expected Annual Generation2 of 2,696 megawatt hours (MWh3), and an estimated Gross Annual Revenue4 of $1.78 million.

“With this recent portfolio acquisition, we’ve grown the Skyline Clean Energy Fund’s size by over 16% percent,”5 said Rob Stein, President of Skyline Energy, the Asset Management company for the SCEF portfolio.

“We closed out 2019 with this great addition, and we’re aiming for a bright 2020 for the Skyline Clean Energy Fund. There is an abundance of opportunity to acquire energy-producing assets under long-term contracts in Ontario alone.”

As of January 1, 2020, SCEF comprises solar energy-producing assets across 29 Ontario cities, with an Expected Annual Generation of 18,931 MWh, and an average of 14.45 years remaining on the contracts. The portfolio has an International Financial Reporting Standard value of more than $61M (as of November 30, 2019).

Visit the Skyline Clean Energy Fund (SCEF) page at to learn more about SCEF as a sustainable investment product that may be a great fit for your investment portfolio.


1 MW/DC: Megawatt of direct current energy; a unit measurement of the output of power.

 2 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.

 3 MWh: A measurement of energy usage; the amount of energy one would use if keeping a 1,000 kilowatt machine running for an hour.

4 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)

16% growth was calculated on the basis of added MW/DC power output.

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