Apex Clean Energy to pursue 1GW of solar capacity in US

Dec 10, 2021 02:04 PM ET
  • US renewables developer Apex Clean Energy has made an arrangement with timberland firm Weyerhaeuser for the growth of 1GW of utility-scale solar and also solar-plus-storage projects on Weyerhaeuser sites across the United States.
Apex Clean Energy to pursue 1GW of solar capacity in US
Image: Apex Clean Energy via Twitter

Apex will develop the portfolio, creating a "near-term opportunity for power purchasers to fulfill their decarbonisation goals at scale", the firm stated through a news releases, including that the projects can reach industrial operations as very early as 2023.

"This considerable portfolio of clean energy projects will certainly be developed leveraging Weyerhaeuser's broad and also geographically varied landholdings and Apex's performance history of bringing commercially sensible clean energy projects to market," claimed Ellen Balfrey, Apex's elderly vice president of financing.

To day, Apex has commercialised greater than US$ 10 billion of utility-scale renewable projects via arrangements with utilities, co-ops, and also corporations.

In October, funds handled by private equity company Ares Management Corporation got a majority stake in Apex Clean Energy with the funds used to give Virginia-based Apex with added capital as it looks for to change to a pure-play renewables independent power producer (IPP).

Apex last year safeguarded a US$ 200 million car loan and also now has a clean energy portfolio with more than 30GW in advancement.

"This contract with Apex is a wonderful step in advancing Weyerhaeuser's strategic growth in renewable resource growth, as well as it sustains our more comprehensive dedication to sustainability and also offering all-natural environment options throughout our land base," stated Russell Hagen, senior vice head of state as well as chief development officer for Weyerhaeuser.

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