The U.S. Army’s largest single renewable energy project began officially generating clean electricity on April 27.
Apex Clean Energy (Apex) developed, managed construction of, and currently operates the groundbreaking hybrid wind and solar complex, which will provide more than 50% of the annual load at U.S. Army Garrison Fort Hood in Killeen, Texas.
Apex and Northleaf Capital Partners own the renewable portfolio of which the complex is a part: the 50.4-MW Cotton Plains Wind, 151.2-MW Old Settler Wind facilities in Floyd County, Texas, and the 15.4-MW Phantom Solar on-site at Fort Hood.
The Defense Logistics Agency–Energy, on behalf of the Army, is purchasing the power from Cotton Plains Wind and Phantom Solar to supply energy to Fort Hood. The two facilities will save the Army—and taxpayers—an estimated $168 million in direct energy costs over the life of the project.
Old Settler Wind is generating enough clean electricity to power 51,000 average U.S. homes. Apex is providing asset management services for all three facilities.
“We are pleased to partner with Apex, given the company’s reputation as a leading renewable energy company,” said Jared Waldron, a Director at Northleaf. “Direct investments in fully contracted wind and solar assets are consistent with Northleaf’s investment strategy and offer stable cash flows and attractive long-term returns for our investors.”
Apex and Northleaf arranged debt financing and tax equity commitments for the renewable portfolio. CohnReznick Capital served as financial adviser to Apex.
The U.S. Army and Apex Clean Energy will host a ribbon-cutting ceremony at Fort Hood on June 2nd to commemorate the start of operations.