Apex Clean Energy sells stake in 217MW renewables portfolio

Apex Clean Energy sells stake in 217MW renewables portfolio

US-based renewables developer Apex Clean Energy has divested a majority of its ownership stake in a 217MW renewable energy portfolio to Canada’s Northleaf Capital Partners.

The portfolio contains the 50.4MW Cotton Plains wind plant, the 151.2MW Old Settler facility in Texas and the 15.4MWAC Phantom Solar facility under construction at the US Army Garrison Fort Hood in Killeen, Texas.

Jared Waldron, director of Northleaf said: “Direct investments in fully contracted wind and solar assets are on strategy for Northleaf’s programme, as they offer predictable long-term cash flows and returns for our investors.”

Under the terms of an agreement announced in January this year, the US Army through the Defence Logistics Agency will buy the 50.4MW Cotton Plains wind facility and the 15.3MWAC Phantom Solar plant in a bid to provide electricity to Fort Hood.

“The partnership with Apex is very strategic to us, given its track record as a leading renewable energy company,” said Waldron. “We look forward to maintaining a productive and long-term relationship.”

Mark Goodwin, president of Apex added: “Apex is proud to help the largest active-duty armoured post in the US Fort Hood increase its energy resiliency and help accelerate our nation’s overall shift to clean energy.”

The 151.2MW Old Settler wind facility will have the capacity to generate enough clean electricity to power 51,000 US households.