Apex Clean Energy completes sale of Michigan wind projects
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Apex Clean Energy completes sale of Michigan wind projects

13 May 2021 (Last Updated May 13th, 2021 09:38)

Apex Clean Energy has concluded the sale of its Isabella wind projects to DTE Energy.

Apex Clean Energy has concluded its previously announced sale of the Isabella Wind I and II projects in Michigan to DTE Energy.

The two wind facilities, located in Michigan, have a combined capacity of 383MW.

Both projects are being developed and managed by Apex, with DTE to oversee their operations.

The wind farms are claimed to be the largest clean energy facilities both in Michigan and in DTE’s portfolio.

Clean energy generated by the projects will be supplied to DTE’s commercial and industrial customers, which include Ford, General Motors and the University of Michigan.

These companies have enrolled in DTE’s voluntary renewable energy programme, MIGreenPower.

In July 2019, the Michigan Public Service Commission conditionally approved Apex Clean Energy proposal to sell both the Isabella wind projects to DTE Energy.

Apex Clean Energy president and CEO Mark Goodwin said: “With stakeholders at every level, from localities and utilities to power buyers and the statehouse, helping to drive the transition to clean energy in [Michigan], ourselves and DTE have brought to life the largest wind projects in the state’s history.

“Alongside partners like DTE, we will continue to pioneer the new energy economy in Michigan and beyond.”

KeyBank and CoBank provided construction loans for the Isabella Wind projects.

ACB served as the coordinating lead arranger and Rabobank as joint lead arranger. Sumitomo Mitsui Trust Bank is the lender.

During the construction phase, the facilities are expected to create more than 350 jobs. Once completed, they are expected to provide up to 20 long-term operations and maintenance positions.

The facilities will produce enough green energy to power 86,000 average US homes and displace almost 700,000t of carbon emissions a year, according to the EPA’s AVERT tool.

Over the projects’ lifetime, the facilities will generate tax revenue of almost $30m for the local community and landowner payments of $100m.

Last August, Apex Clean Energy announced the sale of its 500MW White Mesa wind project to an undisclosed buyer.