(Source: Shutterstock/ ArcLight)
Infrastructure investment firm ArcLight is doling out $500 million in capital to form SkyVest Renewables, which will operate and optimize renewable assets, according to a July 29 news release.
The assets include a 160-megawatt wind farm operating in the Midland Basin in Texas that ArcLight also said it acquired.
The two are targeting operating utility-scale solar and wind assets in North America.
“ArcLight has a deep history of investing in renewables dating back to our first fund, focused on bringing operating excellence, innovation, power expertise, and brownfield development skills to drive value and mitigate risk,’ said Dan Revers, managing partner of ArcLight. “SkyVest augments our existing in-house capabilities to implement these value-added levers. We see a growing opportunity to capitalize on this strategy with a continued disciplined and highly selective investment approach.”
Michael Murphy, former senior vice president and CIO of Clearway Energy, will serve as president of SkyVest. Michael Current, former senior vice president of finance of JERA Americas, will serve as CFO.
Senior advisors and board members include Mark Albenze, former CEO Global Service at Siemens-Gamesa; Tom Kiernan, former CEO of American Clean Power/AWEA; and Scott Hall, former CEO of Great River Hydro.
Recommended Reading
WhiteWater-Led NatGas Pipeline Traverse Reaches FID
2025-04-04 - The Traverse natural gas pipeline JV project will give owners optionality along the Gulf Coast.
DOE Identifies 16 Sites for Rapid AI Data Center Growth
2025-04-04 - The Department of Energy is requesting details on potential development approaches to establish AI infrastructure at select sites.
Energy Transition in Motion (Week of April 4, 2025)
2025-04-04 - Here is a look at some of this week’s renewable energy news, including Maverick Metals securing funding to accelerate commercialization of proprietary critical metals recovery technology.
Acquisitive Public Minerals, Royalty Firms Shift to Organic Growth
2025-04-04 - Building diverse streams of revenue is a key part of growth strategy, executives tell Oil and Gas Investor.
US Oil Rig Count Rises to Highest Since June
2025-04-04 - Baker Hughes said oil rigs rose by five to 489 this week, their highest since June, while gas rigs fell by seven, the most in a week since May 2023, to 96, their lowest since September.
Comments
Add new comment
This conversation is moderated according to Hart Energy community rules. Please read the rules before joining the discussion. If you’re experiencing any technical problems, please contact our customer care team.