Apex Clean Energy

Apex Clean Energy is an independent American clean energy company focused on accelerating the transition to renewable energy sources. The company specializes in the development, construction, and operation of utility-scale wind, solar, and energy storage facilities across North America. Apex Clean Energy's expertise lies in identifying suitable sites, obtaining necessary permits, securing power purchase agreements (PPAs), and overseeing the construction and operation of renewable energy projects.

In September 2023, Apex Clean Energy secured an order from Vestas, a leading wind turbine manufacturer, to repower the 126 MW Downeast Wind project in Maine. The project involves the installation of 30 V150-4.2 MW wind turbines, with Vestas providing supply, delivery, commissioning services, and a multi-year Active Output Management (AOM) service agreement to optimize asset performance.

Apex Clean Energy has demonstrated its commitment to expanding its renewable energy portfolio through strategic partnerships and acquisitions. In January 2024, the company entered a joint venture with SK Gas and SK D&D, leading Korean companies in the liquefied petroleum gas and green energy sectors. The joint venture, named SA Grid Solutions, aims to own and develop energy storage projects in the US, with the 100 MW/200 MWh Great Kiskadee utility-scale battery project in Texas as its first asset.

In December 2023, Apex Clean Energy formed a strategic partnership with ERG S.p.A., an Italian renewable energy company, to manage and potentially expand a portfolio of wind and solar assets in Iowa and Illinois. The partnership includes a 224.4 MW operational wind farm in Iowa and a 92.4 MW operational solar plant in Illinois, with a combined estimated annual production of over 950 GWh.

Furthermore, in August 2022, Apex Clean Energy refinanced and expanded its corporate debt facilities, securing USD 650 million in debt capital through green term loan and revolving letter of credit facilities. This transaction aimed to accelerate the company's growth as an independent power producer and expand its portfolio of operating renewable energy assets.

Key customers and partnerships

In January 2023, Apex Clean Energy announced an environmental attribute purchase agreement (EAPA) with Meta, a leading technology company, for the full capacity of the 195 MW Angelo Solar project in Texas. This agreement contributes to Apex Clean Energy's portfolio with Meta, which now exceeds one gigawatt of clean energy across multiple projects in various US states, including Texas, Virginia, Illinois, Kansas, and Iowa.

Additionally, in December 2023, Apex Clean Energy entered into a strategic partnership with ERG S.p.A., an Italian renewable energy company. The partnership involves ERG acquiring a 75% stake in a holding company that includes a 224.4 MW operational wind farm in Iowa and a 92.4 MW operational solar plant in Illinois, with Apex retaining the remaining 25% stake and continuing the operational management of the assets.