Skyline Renewables, a new venture between private investors Ardian and Transatlantic Power Holdings (TPH), is planning to build a clean power portfolio totalling 3GW in North America.
The first acquisition to the company's portfolio is the 60MW Whirlwind wind farm in Texas from RES and JP Morgan.
Former Iberdrola Renewables president and chief executive Martin Mugica, who set up TPH with Lorenzo Roccia and a group of private investors in 2016, is CEO of Skyline. Roccia is the new company's chairman.
Mugica said: “Our partnership with Ardian has provided both the resources and support to deliver on our strategy for building a leading North American power producer.
“There are great opportunities ahead and we are looking forward to taking advantage of them with Ardian’s full support.”
Ardian Infrastructure co-head Stefano Mion said: “While our vision for Skyline Renewables is broad, Whirlwind is the ideal first investment, one in which we can actively manage the asset and optimize returns.”