Tim Menzie, energy industry veteran, appointed CEO replacing Martin Mugica who stepped down
Backed by Ardian, transition marks next phase of growth and development for Skyline
New York and Portland, August 11, 2023 – Skyline Renewables, a leading independent North American renewables company, backed by Ardian, a world-leading private investment house, announced a leadership transition at Skyline today. Ardian has appointed energy industry veteran, Tim Menzie, as Skyline’s interim CEO, replacing Martin Mugica who stepped down. Martin was CEO, a founder, and continues to retain an interest in Skyline.
This move marks the next phase of growth and development for the company. Founded in 2018 and with support from Ardian’s Infrastructure team, Skyline Renewables has grown into a fully integrated renewables platform with approximately 1 GW of operating wind and solar assets and a 2 GW diversified development pipeline across the U.S.
Having worked closely with Ardian over the past four years, Mr. Menzie is a trusted advisor and a highly respected leader in the energy, power generation and infrastructure sectors. During his thirty-plus-year career, he has partnered with top-tier financial and strategic shareholders to maximize value across a diverse set of global energy and related infrastructure assets. Tim has a long track record of successfully advising portfolio companies on asset management, governance, long-term growth strategies, and acquisition guidance.
“We thank Martin for his leadership over the past five years, solidifying Skyline’s position as a leading independent North American renewables company. Ardian’s investment in and dedication to the renewables space informs our conviction in Skyline Renewables. We are excited about Tim’s vision for Skyline and the tremendous opportunities ahead,” said Mark Voccola, Senior Managing Director and Co-Head of Infrastructure Americas, Ardian.
“I’m excited to join the talented team at Skyline and look forward to taking advantage of the compelling market opportunities to grow our footprint. Ardian is enormously respected for its sophisticated understanding of the renewables space, and we are grateful for their full support. We thank Martin for his invaluable contributions to Skyline’s growth and success and wish him the very best for his next chapter,” said Tim Menzie, Interim CEO, Skyline Renewables.
Ardian and the Skyline Board have initiated a comprehensive selection process to identify the next CEO of Skyline. The selection criteria include qualities such as exceptional leadership skills, deep industry expertise, and an ability to foster a world-class culture. The selection committee anticipates naming a new CEO by Q4 2023.
Since Ardian launched its dedicated Americas infrastructure team in 2018, it has deployed more than US$1bn across the energy, telecommunications and transportation sectors. It also grew the headcount of Ardian’s Americas infrastructure investment team to 14. It invests in high-quality, mid-market US and other OECD American essential infrastructure assets. Globally, the Infrastructure team at Ardian, which comprises more than 60 investment professionals worldwide including financial experts, operational engineers and data scientists, manages more than US$21bn. Ardian has pioneered decarbonizing infrastructure assets in line with global climate change agreements.
Backed by Ardian, Skyline Renewables was created in 2018 to establish a leading North American renewables platform. With a current wind portfolio of about 1 GW of operating wind and solar projects and a 2 GW development pipeline, Skyline aims to build a total installed capacity to 3 GW. With a proven track record of success, Skyline Renewables has become a leader in reducing carbon emissions and promoting environmental sustainability. For more information, visit www.skylinerenewables.com.
Ardian is a world-leading private investment house, managing or advising $150bn of assets on behalf of more than 1,470 clients globally. Our broad expertise, spanning Private Equity, Real Assets and Credit, enables us to offer a wide range of investment opportunities and respond flexibly to our clients’ differing needs. Through Ardian Customized Solutions we create bespoke portfolios that allow institutional clients to specify the precise mix of assets they require and to gain access to funds managed by leading third-party sponsors. Private Wealth Solutions offers dedicated services and access solutions for private banks, family offices and private institutional investors worldwide. Ardian’s main shareholding group is its employees, and we place great emphasis on developing our people and fostering a collaborative culture based on collective intelligence. Our 1,050+ employees, spread across 16 offices in Europe, the Americas, Asia and Middle East are strongly committed to the principles of Responsible Investment and are determined to make finance a force for good in society. Our goal is to deliver excellent investment performance combined with high ethical standards and social responsibility. At Ardian we invest all of ourselves in building companies that last.
ardian.com
ARDIAN US
The Neibart Group
Rachelle Gaynor
Tel: +1 631 278 2046
ardian@neibartgroup.com
