Apex Clean Energy, an independent renewable energy company, recently secured $30 million in follow-on financing from Prudential Capital Group. This latest investment follows the $50 million in financing that Apex announced with Prudential in February of this year. The proceeds of this financing will be utilized to advance Apex’s project pipeline, including project construction, development, acquisitions, and general corporate purposes.
The investment will also be used to expand Apex’s growing asset management business, which is supported by the company’s recently completed remote operations center in Charlottesville, Virginia.
“We’re pleased to close our second 2015 transaction with Apex,” said Ric Abel, managing director at Prudential Capital Group. “This add-on financing will allow Apex to continue to invest more into its considerable pipeline, and retain many projects deeper into the development cycle before selling to more conventional long-term owners or maintain a long-term stake.”
Mark Goodwin, Apex Clean Energy president, added, “We are seeing tremendous interest from the utility, financing, and corporate sectors. This follow-on investment accelerates our projects to serve this growing market.”
Apex’s wind development pipeline is currently the largest in the United States. In the coming year, Apex will bring five new U.S. wind energy facilities online, comprising 1,161 MW of capacity. Apex will provide asset management services on four of these facilities.
Apex Clean Energy is an independent renewable energy company focused on building utility-scale generation facilities. Apex is constructing one of the nation’s most diversified portfolios of renewable energy resources, capable of producing more than 12,000 MW of clean energy.
Apex Clean Energy
Filed Under: Financing, News