ArcLight Infrastructure Partners has launched SkyVest Renewables, a new initiative focused on operating and optimizing renewable assets. SkyVest has been built on ArcLight’s extensive experience in the renewables sector since 2001. The initiative is backed by an initial $500 million capital commitment from ArcLight. SkyVest has purchased a 160 MW operational wind farm in the Midland Basin of Texas, which started producing electricity in 2020, as part of its launch.
SkyVest wants to improve the performance and value of wind and solar infrastructure by utilizing ArcLight’s resources as well as its own internal knowledge. The focus will be on utility-scale assets in North America. By implementing best practices in operations, technology, and finance, SkyVest intends to maximize cash flow while minimizing risks. The initiative will also utilize ArcLight’s resources in asset management, data analytics, and risk management.
The leadership team of SkyVest includes experienced executives such as President Michael Murphy, former SVP and CIO of Clearway Energy, and CFO Michael Current, former SVP of Finance at JERA Americas. Senior advisors and board members who support them include Scott CEO of Great River Hydro, Tom Kiernan, the former CEO of American Clean Power/AWEA, and Mark Albenze, the former CEO of Global Service at Siemens-Gamesa. This team is poised to drive SkyVest’s ambitious goals in the renewable energy sector.
“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,” said Carter Ward, Partner at ArcLight. He added, “Similar to ArcLight’s prior operating renewable investments – including Leeward, TerraGen and Great River Hydro – we believe SkyVest has the resources required in today’s market to become one of the leading operators of wind and solar assets in the U.S.”
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