Skyline Clean Energy Fund acquires biogas plant in Alberta
Skyline Clean Energy Fund has acquired a biogas facility located in Lethbridge, Alberta through the purchase of 100% of the units in Lethbridge Biogas and the shares in Lethbridge Biogas General Partner.
The Lethbridge facility is expected to convert 120,000 tonnes of organic waste into renewable natural gas annually. The facility generates revenue primarily through intake of organic waste and producing Renewable Natural Gas (RNG).
The asset operates under a 20-year RNG contract with FortisBC.
“The Skyline Clean Energy Fund team is thrilled to announce the acquisition of another biogas facility into our portfolio,” said Rob Stein, president of Skyline Energy.
“This asset is SCEF’s first outside of Ontario, as well as its largest acquisition to date and the first to earn income from RNG sales. SBE LP, along with Woolwich Bio-En Inc., which manages the Elmira, Ontario biogas facility, will be able to provide oversight and knowledge that will enable future synergies between the two biogas plants. We are excited to add more clean energy facilities to the SCEF portfolio to complement our existing assets, with the goal of increasing value for SCEF investors.”
“The Canadian Biogas Association congratulates Skyline on their recent acquisition of Lethbridge Biogas,” said Jennifer Green, executive director of the Canadian Biogas Association.
“As the Canadian biogas and RNG market grows, the success of operating biogas and RNG facilities will be instrumental in demonstrating the great value that is provided to Canadians in emission reductions, clean energy production, and economic opportunity.”
The Lethbridge facility is expected to process 120,000 tonnes of organic waste in the first year, producing 280,000 GJ of RNG.
This is equivalent to more than 78 million kilowatt-hours – which would provide electricity to an estimated 12,174 homes for one year.
Together with SCEF’s biogas facility in Elmira, Ontario (purchased August 2021), SCEF is now responsible for facilities capable of receiving 240,000 tons of organic waste.
