Ardian’s Skyline Renewables adds US wind portfolio

While Skyline Renewables’ acquisitions to date have been in the wind energy sector, the Ardian-backed JV plans on diversifying into other technologies beginning with solar.

An Ardian-backed US renewables venture has made its fourth acquisition in the wind sector since its launch last year as it moves to meet a 3GW goal.

Skyline Renewables, a partnership between French fund manager Ardian and Transatlantic Power Holdings, announced the purchase of four wind farms with a combined 117MW capacity. The deal puts Skyline’s total clean energy output at 803MW.

The wind farms are located in Iowa, Kansas, Pennsylvania and Wyoming and are contracted to provide power to major population centres.

The renewables company launched last March with the acquisition of a 60MW wind project in Texas. While Skyline’s acquisitions have been solely in the wind sector, the company has plans to diversify soon.

“In addition to the completed wind acquisitions, Skyline is also actively working on a number of solar opportunities,” Victor Austin, Skyline’s managing director for M&A and technology, told Infrastructure Investor. “We also plan to further diversify the portfolio with investments in storage and other technologies.”

Based in Paris, Ardian had until recently focused on the European market. Last year, however, the firm raised $800 million for its debut Americas-focused vehicle. Ardian Americas Infrastructure fund IV beat its original $500 million target less than six months after it began fundraising.

The fund will invest in energy – both natural gas and renewables – and transport, primarily in the US and Chile, but also in Canada and Mexico. The firm said it expects to do six to seven deals through the vehicle. Skyline Renewables was the second asset to be added to the fund’s portfolio.