Apex Clean Energy has completed financing for three utility-scale renewable energy projects across Texas, Ohio and Illinois, USA. The financings cover Coles Wind in the Midcontinent Independent System Operator market, Emerson Creek Wind in the PJM market and Raven Storage in the Electric Reliability Council of Texas market.
Together, the transactions support nearly 670 MW of capacity, with total financial commitments of about $2.79bn for construction and operation.
Emerson Creek Wind is a 269 MW wind project located in Erie and Huron Counties, Ohio. It was financed through a fully underwritten construction and term loan, alongside a letter of credit facility from CIBC, Helaba and Santander, with tax equity provided by Wells Fargo.
Coles Wind is a 300 MW wind project in Coles County, Illinois. The project secured construction and term financing underwritten by Santander, with J.P. Morgan acting as sole tax equity partner.
Raven Storage is a 100 MW battery storage project in Wharton County, Texas. It forms part of SA Grid Solutions, a joint venture between Apex Clean Energy, SK Gas and SK Eternix, and represents Apex Clean Energy’s first financing with Bank of Hope.
