Skyline Clean Energy Fund Purchases FIT 1 rooftop solar system in Teeswater, ON

Skyline Clean Energy Fund Purchases FIT 1 rooftop solar system in Teeswater, ON

On October 23, 2020, Skyline Clean Energy Fund, a privately-owned and managed portfolio of clean energy assets across Ontario, announced the acquisition of a 134 kW/DC1 rooftop operating solar system in Teeswater, ON (north of Wingham).

The total purchase price was $497.8K.

The solar system operates under a 20-Year FIT 1 contract with the Ontario government with nearly 13 years remaining on the contract. It has an Expected Annual Generation2 of 130 MWh3, equivalent to powering 11 homes each year4.

This is Skyline Clean Energy Fund’s ninth FIT 1 contract, representing a pursuit of earlier, higher-rate contracts, with more potential upside through upgrading the solar asset and achieving operational efficiencies.

Skyline Clean Energy Fund now comprises 43 clean energy assets totalling nearly 30 megawatts (MW) in Ontario.

kW/DC: Kilowatt 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 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 (https://oee.nrcan.gc.ca/corporate/statistics/neud/dpa/calculator/ghg-calculator.cfm#results).