SkyPower Global
Transforming Communities Through Solar Energy
Supporting sustainability within communities is one of CIM’s key initiatives. When SkyPower’s solar assets in Ontario, Canada were made available in 2009 after the company began searching for a new investor base, we recognized an opportunity. We acquired SkyPower’s existing projects and planned to develop and expand its project pipeline to materially impact the sustainability of the communities in which we invest.
At acquisition, CIM’s investment in SkyPower included:
- A 50 percent stake in the 9.1-megawatt First Light energy park — the first operational utility scale solar energy project in Canada
- A pipeline of additional projects that were ultimately converted into 200+ megawatts of solar power generation nameplate capacity
With our continued involvement, SkyPower has expanded its clean energy distribution globally to communities in North America and in developing countries. Approximately 35% of the world’s rural population -- a figure that goes up to almost 75% in Sub-Saharan Africa -- are excluded from traditional energy distribution systems and forced to rely on hazardous and inefficient alternatives. SkyPower is helping to close the energy distribution gap with the development of solar parks across Asia, Africa and the Americas. Additionally, its charitable organization SkyPower Cares donates home solar kits to families without sufficient access to electricity.
Today, SkyPower Global is one of the world’s largest and most successful developers and owners of utility-scale solar energy projects, with more than 25,000 megawatts of solar projects worldwide in various stages of development. Through its 35 international locations, SkyPower works with local organizations, governments and developers to provide the clean energy and power necessary for communities to grow.
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Disclaimer:
There can be no assurance that CIM will replicate past results or meet its objectives in the future.