Skyline Renewables, an independent clean energy platform and Starwood Energy Group Global, a private investment firm focused on energy infrastructure, have reached an agreement for Skyline to purchase Starwood Energy’s 51 percent interest in the Horse Creek and Electra wind farms.
Horse Creek and Electra, located in Haskell and Wilbarger counties, Texas, are each 230-megawatt wind projects constructed by Starwood Energy that began operations in late 2016. Each project consists of 100 GE 2.3-megawatt turbines and both include long-term hedges. Skyline will manage the portfolio after the transaction closes, anticipated later this year.
The transaction follows Starwood’s sale of a 49 percent interest in the wind farms to MEAG, Munich Re’s asset manager, in 2017. Terms of the transaction were not disclosed.
“This transaction is the culmination of many years of work by the Starwood team to develop these high-quality energy infrastructure assets, and create value for our limited partners,” said Himanshu Saxena, CEO of Starwood Energy.
With this latest acquisition, Skyline Renewables will grow its wind portfolio to 686 megawatts of controlled capacity since forming the company earlier this year as a partnership between Ardian and Transatlantic Power Holdings. Skyline Renewables announced an initial acquisition of Whirlwind Energy, a 60-megawatt project in Northwest Texas, and an additional acquisition of Hackberry Wind Farm, a 166-megawatt project also in Northwest Texas, in September 2018.
