Skylar Acquires Option Rights to 180MW Townsite Photovoltaic Project

Today Skylar Resources L.P. announces that it has acquired 100 percent interest in the option rights to develop the 180-megawatt (MW) Townsite 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 L.P.

Located 30 miles southeast of Las Vegas, Nevada, the Townsite project is shovel-ready, fully permitted and ITC eligible. The project is less than 3 miles from the MEAD substation and includes interconnection rights at MEAD. 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.

Skylar is in discussions with several developers and EPC firms to complete construction. Skylar currently has a 25 year Power Purchase Agreement with Glendale (CA) Water & Power and plans to use offtake power from the Townsite project to serve the municipal utility.

Townsite Solar Project Overview

• Location: Clark County, Nevada, adjacent to Boulder City
• Net Peak Capacity: 180 MW (AC)
• Project Area: 880 acres (inside Boulder City limits, non-Bureau of Land Management lands)
• Annual yield: over 350,000 MWh (corresponding to the annual consumption of about 30,000 homes)
• Anchor Energy Purchaser: Glendale (CA) Water & Power (25-year, 50 MW customized PPA)

Source: http://skylarresources.com/