[Guelph, ON – May 31, 2022]
On May 31, 2022, Skyline Clean Energy Fund acquired a biogas facility located in Lethbridge, Alberta through the purchase of 100% of the units in Lethbridge Biogas LP and the shares in Lethbridge Biogas General Partner Inc.
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, 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’re 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, 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 GJ1 of RNG.
This is equivalent to more than 78 million kilowatt-hours – which would provide electricity to 12,174 homes for one year.2
Together with SCEF’s biogas facility in Elmira, Ontario (purchased August 2021), SCEF is now responsible for facilities capable of receiving 240,000 tonnes of organic waste – equivalent to the annual food waste produced by more than 566,000 Canadians.3
Skyline Clean Energy Fund now comprises 76 clean energy assets: 74 solar assets totaling 38.356 MW/DC4 and two biogas facilities totaling 184,000 tonnes in annual Organic Waste Capacity.5
1 Gigajoule (GJ) is a metric energy measurement used for Renewable Natural Gas (RNG). One GJ of natural gas has the same amount of energy as 27 litres of fuel oil, 39 litres of propane, 26 litres of gasoline or 277 kilowatt hours of electricity. Source: https://www.nrcan.gc.ca/energy/energy-sources-distribution/natural-gas/natural-gas-primer/5641
2 The number of homes powered was determined by dividing the total amount of energy (kWh) produced at the Lethbridge facility by the energy intensity per Alberta household in kWh, which was derived from the total electricity consumption divided by the total number of Alberta households. Source: https://oee.nrcan.gc.ca/corporate/statistics/neud/dpa/menus/trends/comprehensive_tables/list.cfm
3 Annual food waste equivalency was derived by dividing total Canadian waste diverted and disposed of by total biogas facility capacity. Total Canadian waste is calculated by adding waste diverted from residential sources and waste disposed of residential sources then converting it from kg to tonnes. Source: https://www.canada.ca/en/environment-climate-change/services/environmental-indicators/solid-waste-diversion-disposal.html#DSM
4 MW/DC: Megawatt of direct current energy; a unit measurement of the output of power.
5 Skyline Clean Energy Fund’s total MW/DC (solar) and annual Organic Waste Capacity (biogas) figures are expressed in accordance with the Fund’s percentage ownership of the assets.
”One of Canada’s largest biogas providers” based on annual waste processing capacity of 240,000 tonnes between Skyline Clean Energy Fund’s Elmira and Lethbridge facilities.
About Skyline Clean Energy Fund
Skyline Clean Energy Fund (“SCEF”) is a privately owned and managed portfolio of medium to large scale clean energy assets, focused on acquiring income-producing assets across Canada, under long-term government contracts.
SCEF is distributed as an alternative investment product through Skyline Wealth Management Inc. (“Skyline Wealth Management”), the preferred Exempt Market Dealer for SCEF.
SCEF is committed to surfacing value to its investors through asset monitoring and optimization, while providing a sustainable investment product based in clean, renewable energy.
To learn more about SCEF and its asset manager, Skyline Energy, please visit SkylineEnergy.ca.
To learn about additional alternative investment products offered through Skyline Wealth Management, please visit SkylineWealth.ca.
Skyline Clean Energy Fund is operated and managed by Skyline Group Of Companies.
For media inquiries, please contact:
Cindy BeverlyVice President, Marketing & Communications
Skyline Group of Companies
5 Douglas Street, Suite 301
Guelph, ON N1H 2S8
519.826.0439 x602