The renewables’ portfolio consists of two wind farms: the 50.4-MW Cotton Plains Wind and 151.2-MW Old Settler Wind facilities in Floyd County, Texas.
Apex Clean Energy announced the sale of a majority ownership stake in a 217-MW renewable energy portfolio to Northleaf Capital Partners, an independent global private markets manager with more than $7 billion in infrastructure and private equity commitments under management.
The portfolio consists of the 50.4-MW Cotton Plains Wind and 151.2-MW Old Settler Wind facilities in Floyd County, Texas. It also includes the 15.4-MWac Phantom Solar facility currently under construction onsite at U.S. Army Garrison Fort Hood in Killeen, Texas.
In a previous deal announced, the Defense Logistics Agency, on behalf of the Army, will purchase the power from Cotton Plains Wind and Phantom Solar to supply energy to Fort Hood. Old Settler Wind will generate enough clean electricity to power an additional 51,000 average U.S. homes. Apex will provide asset-management services for all three facilities.
Fagen, Inc., is serving as the balance-of-plant contractor on the wind projects, and Phoenix Solar is leading construction of the solar component. Once complete, the wind projects will comprise a combined 84 GE 2.4-MW turbines.
“Apex is proud to help Fort Hood, the largest active-duty armored post in the United States, increase its energy resiliency and help accelerate our nation’s overall shift to clean energy,” said Mark Goodwin, president of Apex. “The project achieves a number of ‘firsts,’ with onsite solar and off-site wind creating a hybrid solution to provide more than 50% of the annual load at Fort Hood, and at the same time saving taxpayers an estimated $168 million in direct energy costs over the life of the project.”
In separate transactions, Apex and Northleaf arranged debt financing and tax equity commitments for the projects. CohnReznick Capital Markets served as financial adviser to Apex.
Filed Under: News, Projects
