SkyPower Corp | Wind Financing, Financial Advisory Case Study | Marathon Capital: Renewable Energy Financial Advisory

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SkyPower entered into Canadian Companies' Creditors Arrangement Act ("CCAA") protection on August 12, 2009. A sale process in respect of the business and assets of SkyPower was approved by Order of the Court on August 25, 2009.
Marathon was appointed sole financial advisor by the Court in respect of the auction of SkyPower's Development Business and 230.5 MW of GE Wind Turbine Generator Assets (134 1.5 MW XLEs and 20 1.5 MW SLEs).
SkyPower possessed an experienced development team with a portfolio of 36 MW of operating wind and solar assets, over 1.2 GW of near-term wind and solar projects, and over 4.0 GW of early stage wind and solar development projects

We assisted SkyPower in arranging their Debtor-In-Possession ("DIP") financing, including preparation of their DIP investor presentation.
In conjunction with the management team, we created a teaser, model, data room, and detailed information memorandums.
We contacted over 400 potential investors including hedge funds, private equity funds, and strategic buyers.
We executed a two-month auction process and reported weekly to SkyPower's management, majority shareholder, and secured lenders.
We received multiple bids from top-tier strategic and financial buyers for the GE turbines, Solar Assets (consisting of a 9 MW Operating Solar Asset and over 400MWs of Solar Development projects), 27MW Fermeuse Wind Project, and 30MW Near Construction Digby Wind Project.
We ran a short sale process for the remaining Wind Development Assets (1+ GW of Advanced Wind Development Projects) .
We advised SkyPower, its majority shareholder, and its secured lenders in evaluating the offers and selecting the final buyer for each asset.