Investment firm announces renewable initiative and new wind investment of 160 MW farm
Investment firm ArcLight Infrastructure Partners announced the launch of SkyVest Renewables, an operating-focused renewable investment initiative, and the concurrent acquisition of a 160 MW operating wind farm.
SkyVest, established by ArcLight to operate and optimize acquired assets, leverages ArcLight’s extensive experience in renewables since 2001.
ArcLight is committing an initial $500 million to the initiative and has simultaneously completed the acquisition of a 160 MW operating wind farm in the Midland Basin, Texas, which began commercial operations in 2020.
Dan Revers, Managing Partner of ArcLight, said, “SkyVest augments our existing in-house capabilities to implement these value-added levers. We see a growing opportunity to capitalize on this strategy with a continued disciplined and highly selective investment approach.”
ArcLight and SkyVest will focus on North America’s utility-scale wind and solar assets.
The initiative aims to enhance the potential for substantial near-term cash flow while mitigating downside risks.
Carter Ward, Partner at ArcLight, said, “As the renewables sector continues to grow and mature, the operational and commercial requirements are changing, which in turn creates the opportunity to apply a value-add skill set compared to the ‘growth-at-all-cost’ orientation of the past.”
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Michael Murphy, President of SkyVest, added, “ArcLight has a multi-decade history of making renewable infrastructure investments, driven by a value-added approach and operational resources that I believe are imperative to driving value and mitigating risk in the renewables market today.”
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