Skyline Clean Energy Fund Purchases Portfolio of 22 Solar Assets
December 14, 2020 Press Releases
On December 14, 2020, Skyline Clean Energy Fund (“the Fund” or “SCEF”), a privately-owned and managed portfolio of clean energy assets across Ontario, announced the acquisition of a 100% security interest in Nautilus Solar NewWorld (NSNW) Solar Holdco 1, which has varying degrees of ownership in 22 solar assets across southern Ontario.
Accounting for Skyline Clean Energy Fund’s percentage of ownership in the assets, the portfolio totals 5.25 MW/DC1. The portfolio comprises a mix of ground mounted and rooftop operating solar systems.
Each of the assets operates under either a 20-Year FIT 1 contract, or 20-Year Fit 2 contract. Together, the Fund’s ownership in the assets has an Expected Annual Generation2 of 5,755 MWh3, equivalent to powering 502 homes each year4.
“We’re pleased to announce the acquisition of this expansive solar portfolio across Ontario,” said Rob Stein, President, Skyline Energy.
“This transaction is SCEF’s largest to date in terms of total assets acquired in a single purchase. It is a great way for the Fund to top off 2020—especially in the unfortunate pandemic-ridden environment. The Fund has shown historically steady and stable performance.”
The assets are located in Acton, Ajax, Brampton, Brantford, Chatham, Leamington, London, Milton, Mississauga, Tillsonburg, Whitby, and Windsor.
Skyline Clean Energy Fund now comprises 65 clean energy assets totalling 34.37 megawatts (MW) in Ontario, with a total Expected Annual Generation of 36,862 MWh.
About Skyline Clean Energy Fund
Skyline Clean Energy Fund (“SCEF”) is a privately owned and managed portfolio of medium to large scale clean energy assets, focused on acquiring income-producing assets across Canada, under long-term government contracts.
SCEF is offered as an alternative investment product through Skyline Wealth Management Inc. (“Skyline Wealth Management”), the exclusive Exempt Market Dealer (EMD) for SCEF.
SCEF is committed to surfacing value to its investors through asset monitoring and optimization, while providing a sustainable investment product based in clean, renewable energy.
To learn more about SCEF and its asset manager, Skyline Energy, please visit SkylineEnergy.ca.
To learn about additional alternative investment products offered through Skyline Wealth Management, please visit SkylineWealth.ca.
Skyline Clean Energy Fund is operated and managed by Skyline Group of Companies.
For media inquiries, please contact:
Cindy BeverlyVice President, Marketing & Communications
Skyline Group of Companies
5 Douglas Street, Suite 301
Guelph, Ontario N1H 2S8
cbeverly@skylinegrp.ca
1 MW/DC: Megawatt of direct current energy; a unit measurement of the output of power.
2 Expected Annual Generation is projected using a combination of actual historical production and an independent engineer’s estimates 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 To determine the number of powered homes equivalency metric, Natural Resource Canada’s Greenhouse Gas Equivalencies Calculator was used (https://oee.nrcan.gc.ca/corporate/statistics/neud/dpa/calculator/ghg-calculator.cfm#results).
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