Skylar Resources LP announced Oct. 5 that it has acquired a 100% interest in the option rights to develop the 180-MW (ac) Townsite solar photovoltaic project that KOWEPO Americas developed in Boulder City, Nevada.
Terms of the transaction were not disclosed.
“We are pleased to acquire the option rights to the Townsite project and look forward to meeting the growing demand for renewables in the West. Skylar will continue to pursue similar acquisitions as we actively seek solutions for complex structured products for our customers,” said William O. Perkins III, CEO and President of Skylar Resources.
Located 30 miles southeast of Las Vegas, the Townsite project is shovel-ready, fully permitted and Investment Tax Credit eligible, Skylar noted. The project is less than three miles from the Mead substation and includes interconnection rights at Mead. Through the acquisition, Skylar takes over a large generator interconnection agreement with the Western Area Power Administration. Skylar also acquired an agreement with Western that enables Townsite power to reach customers in the California ISO, Los Angeles Department of Water & Power balancing authority, NV Energy territory, and other regions served by rights holders at the Mead 230-kV station. The interconnection associated with the project takes the last currently open bay at Mead 230, Skylar noted.
Skylar said it is in discussions with several developers and EPC firms to complete construction. Skylar currently has a 50-MW, 25-year Power Purchase Agreement with Glendale Water & Power in California and plans to use offtake power from the Townsite project to serve the municipal utility.
The U.S. Department of Energy’s Western Area Power Administration had issued in October 2013 a finding of no significant impact on the transmission line for this project. Western was responding to an interconnection and land grant request by KOWEPO Americas for the Townsite solar facility and a 2.75-mile-long, 230-kV generation tie line from the facility to the administration’s Mead Substation.
Skylar Resources is an energy marketing organization focused on term structured renewables transactions. The firm said its deep experience in energy markets allows it to serve clients by providing them with unique, customized structured solutions which are often difficult to find in the marketplace. Skylar Resources is a wholly-owned subsidiary of Brisa-Max Holdings VI LLC.