- $500M Capital Commitment: ArcLight invests $500 million in new renewables initiative, SkyVest.
- 160 MW Wind Farm Acquisition: Purchase of Texas wind farm highlights strategic focus.
- Experienced Leadership: SkyVest led by seasoned executives and advisors in the renewables sector.
ArcLight has launched SkyVest Renewables, committing an initial $500 million to operate and optimize renewable assets. As part of this initiative, ArcLight has acquired a 160 MW wind farm in Texas, which began operations in 2020.
SkyVest, leveraging ArcLight’s resources and expertise, aims to enhance the operational and commercial value of utility-scale wind and solar assets in North America. This approach promises significant near-term cash flow while mitigating risks.
“ArcLight has a deep history of investing in renewables,” said Dan Revers, Managing Partner of ArcLight. “SkyVest augments our capabilities to implement value-added levers. We see a growing opportunity to capitalize on this strategy with a disciplined investment approach.“
SkyVest’s leadership team includes President Michael Murphy, former SVP and CIO of Clearway Energy, and CFO Michael Current, ex-SVP of Finance at JERA Americas. Senior advisors include Mark Albenze, Tom Kiernan, and Scott Hall, all veterans in the renewables sector.
“I am excited to partner with ArcLight,” said Michael Murphy. “ArcLight’s value-added approach and operational resources are imperative to driving value and mitigating risk in today’s renewables market.“
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“As the renewables sector grows, the operational and commercial requirements are evolving,” added Carter Ward, Partner at ArcLight. “We believe SkyVest has the resources to become a leading operator of wind and solar assets in the U.S.“
SkyVest will enhance ArcLight’s asset management, data analytics, and project risk management capabilities, positioning itself as a top player in the renewable energy market.