Skylar Resource, an energy marketing organization focused on term structured renewables transaction, has acquired 100% interest in the option rights from KOWEPO Americas to develop the 180MW Townsite PV project in Boulder City, Nevada. Terms of transaction were not disclosed.
The Townsite project is located 30 miles southeast of Las Vegas, Nevada, where is less than 3 miles from the MEAD substation. Being shovel-ready, fully permitted and ITC eligible, the project includes interconnection rights at MEAD. The project is expected to generate 350,000MWh of clean electricity per year, while part of the energy generated will be sold by a 25-year, 50MW customized power purchase agreement signed with Glendale (CA) Water & Power.
Through the acquisition, Skylar takes over the large generator interconnection agreement with the Western Area Power Administration (Western). 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 at MEAD associated with the project takes the last currently open bay at MEAD 230.
"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,” said William O. Perkins III, CEO and President of Skylar Resources L.P. Skylar will continue to pursue similar acquisitions as we actively seek solutions for complex structured products for our customers.”