Skyline Clean Energy Fund Purchases Portfolio of 22 Solar Assets

Skyline Clean Energy Fund Purchases Portfolio of 22 Solar Assets

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.

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 an 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 (