Apex Clean Energy sells majority ownership of renewable energy portfolio
- July 15, 2016
Charlottesville-based Apex Clean Energy has sold a majority ownership stake in a 217 megawatt renewable energy portfolio to Canada-based Northleaf Capital Partners.
Northleaf is a global private markets manager, with more than $7 billion in infrastructure and private equity investments under management.
The sales price was not disclosed.
The portfolio consists of the Cotton Plains Wind and Old Settler Wind facilities in Floyd County, Texas; and the Phantom Solar facility now under construction at U.S. Army Garrison Fort Hood in Killeen, Texas.
In a deal announced in January, 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 electricity to power an additional 51,000 average U.S. homes. Apex will provide asset management services for all three facilities.
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.
Apex Clean Energy builds, owns, and operates utility-scale wind and solar power facilities. Last year, Apex completed 1,042 megawatts of new wind capacity.