Apex acquires 442.5MW solar projects in Virginia from SolUnesco

7 January 2019 (Last Updated January 7th, 2019 11:09)

US-based utility-scale wind and solar power facilities operator Apex Clean Energy has acquired 442.5MW of solar projects across Virginia from renewable energy developer SolUnesco.

Apex acquires 442.5MW solar projects in Virginia from SolUnesco
Home solar outfits . Credit: David Goehring.

US-based utility-scale wind and solar power facilities operator Apex Clean Energy has acquired 442.5MW of solar projects in Virginia, US, from renewable energy developer SolUnesco.

Financial details of the acquisition have not been disclosed by both companies.

Under the deal, Apex will take over solar projects including 150MW Carvers Creek, 150MW Moody Creek, 130MW Red Brick, and 12.5MW Rivanna that are located across the Commonwealth.

These solar projects in Virginia will generate enough clean electricity to power approximately 72,000 US homes and would contribute over $11m in state and local tax revenue.

Apex Clean Energy president and CEO Mark Goodwin said: “Apex continuously seeks to grow our utility-scale wind and solar pipeline based on projects with the greatest potential to meet rapidly expanding market demand.

“The projects recently acquired from SolUnesco are expertly sited, have strong landowner support, and offer substantial environmental and economic benefits.

“The projects recently acquired from SolUnesco are expertly sited, have strong landowner support, and offer substantial environmental and economic benefits.”

“We look forward to bringing these projects online, enabling significant job creation and new revenue streams in communities across the Commonwealth of Virginia.”

With this acquisition, Apex has expanded its nationwide portfolio of advanced solar projects to more than 3GW, of which nearly 700MW situated in the Commonwealth.

SolUnesco CEO Francis Hodsoll said: “This partnership provides key capabilities and resources to best position these four projects. We believe the Apex relationship will advance the growth of SolUnesco’s capabilities and market position.”

In December last year, Apex Clean Energy sold its 202MW Sugar Creek wind project to a wholly owned subsidiary of Algonquin Power & Utilities for an undisclosed sum.