Canadian Clean Energy Fund Looks Back on Record Year; Anticipates Growing Energy Demand in 2023

Guelph, Ontario, Canada, Jan. 30, 2023 (GLOBE NEWSWIRE) -- Skyline Clean Energy Fund (SCEF), a Guelph, Ontario-based equity growth fund investing in clean energy assets, is reporting several landmark achievements in 2022 and is looking to capitalize on further growth opportunities in the new year. 

In 2022, SCEF closed six transactions, increasing its Expected Annual Generation to 125,327 MWh(1) (an annual increase of 125.33%)(2). 

Notable fund transactions

This past year, SCEF acquired its largest acquisition to date, a biogas facility in Lethbridge, Alberta – the fund’s second biogas asset in its portfolio. With this purchase, SCEF became one of Canada’s largest producers of biogas(3).  

The Lethbridge facility is also the first to earn income from Renewable Natural Gas (RNG) sales and is SCEF’s first acquisition of an operating project outside of Ontario. SCEF’s Lethbridge plant and its plant in Elmira, Ontario have a cumulative capacity of 184,000 tonnes in annual Organic Waste Capacity(4) and 224,000 GJ(5) in expected RNG production per year. 

This year also marked SCEF’s entry into Alberta’s solar market with the acquisition of a ground-mounted solar development project located southeast of the town of Bassano, Alberta. The Bassano acquisition is SCEF's first investment in a non-operational development project, as well as its first investment in the Alberta solar market, which is poised to grow in the coming years(6). The asset, slated to be operational by the end of 2023, is expected to total 12,000 KW/DC(7) (12 MW/DC(8)) in size and have an Expected Annual Generation of 17,621 MWh.(9) 

The Fund also acquired an additional 7,852  KW/DC (7.852 MW/DC) in ground-mounted and rooftop solar assets throughout 2022.  

SCEF’s leadership in the spotlight

In early 2022, Rob Stein, President, Skyline Energy, was one of the 50 recipients of the 2022 Report on Business magazine Changemakers award by The Globe and Mail, which honours up-and-coming business leaders. The award-winning editorial staff selected the winners for their ideas, accomplishments, and impact based on the nominations, subsequent interviews, and reference checks. 

A high-power partnership to reduce e-waste

2022 also saw Skyline Energy partner with the world’s most positive battery, Better Battery Co. (BBCo), to launch carbon-neutral, high-performance batteries in Canada, with the goal of reducing the carbon footprint. Better Battery Co. offers carbon-neutral batteries that give back and can be easily recycled through an innovative and integrated recycling program. 

Outlook for 2023 

The demand for clean energy is expected to increase in 2023 as concern over climate change and support for environmental, social, and governance (ESG) factors expand.  According to the Canada Energy Regulator, energy demands in Canada are expected to grow by 44% by 2050.(10) 

Some positive newspieces that have come out of 2022 include Natural Resources Canada’s announcement that it was investing $800 million in clean fuel projects as part of the $1.5-billion Clean Fuels Fund it first announced in 2021.(11) Additionally, the Business Development Bank of Canada launched a $400 million cleantech fund to help scale up the commercialization of low-carbon technologies.(12) 

“Although we have seen additional cleantech investment from Canada this past year, a collective effort will need to continue among all the provinces and the private sector in 2023 in order to achieve Canada’s targets for 2030,” said Rob Stein, President, Skyline Energy. 

“Canada has an abundance of resources that can be used to produce clean energy, and there is a widespread consensus that we need to move away from polluting energy as the fight against climate change becomes direr.” 

In Stein’s words, that is why SCEF exists: “in order to support and invest in sustainable ways to meet the rising need for energy in Canada.”  

Over the next year, SCEF aims to continue pursuing both stabilized and underperforming assets, evaluating them based on their income potential as well as the investment required to optimize or upgrade them to maximize their energy output.  

“We will continue to invest and support the further development of clean energy technology and solutions that can help Canada reach its carbon emissions reduction targets,” remarked Stein. 

SCEF is currently open for investment. Visit to learn more about Skyline Clean Energy Fund and contact an Advisor. 

Skyline Clean Energy Fund is now available on Fundserv (RBS2500).  

1) MWh: A measurement of energy usage; the amount of energy one would use if keeping a 1,000-kilowatt machine running for an hour.  

2) Based on the Expected Annual Generation reported for all 2022 transactions.  

3) Based on annual waste processing capacity of 240,000 tonnes between Skyline Clean Energy Fund’s Elmira and Lethbridge facilities. 

4) 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. 

5) 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: 

6) CBC/Radio Canada. (2022, January 1). Wind and solar: A robust forecast for renewable energy in Alberta | CBC news. CBC news. Retrieved May 19, 2022, from 

7) KW/DC: Kilowatt of direct current energy; a unit measurement of the output of power. 

8) MW/DC: Megawatt of direct current energy; a unit measurement of the output of power. 

9) Expected Annual Generation is the expected kWh of electricity produced from solar and the expected GJ of energy produced by biogas assets converted to kWh. It is calculated as an expectation of annual output based on analysis of either (or both) actual historical generation and IE projected inputs, including system efficiency and historical weather data. This figure is expressed in accordance with the Fund’s percentage ownership of the assets. 

10) Government of Canada, C. E. R. (2022, May 10). Canada energy regulator / Régie de l'énergie du Canada. CER. Retrieved January 6, 2023, from,2021%20to%2095%25%20in%202050 

11) Graney, E. (2022, November 15). Ottawa rolls out $800-million in clean fuel funding. The Globe and Mail. Retrieved January 6, 2023, from 

12) Graney, E. (2022, November 2). BDC commits another $400-million for Clean Tech in Canada. The Globe and Mail. Retrieved January 6, 2023, from 

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”), 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 

To learn about additional alternative investment products offered through Skyline Wealth, please visit

Skyline Clean Energy Fund is operated and managed by Skyline Group Of Companies. 


A Rooftop Solar Array in the GTA, Owned By Skyline Clean Energy Fund

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