US-based renewable energy developer Apex Clean Energy has divested a majority of its ownership stake in a 217MW renewable energy portfolio to the Canadian financial institution Northleaf Capital Partners.
The portfolio includes the 50.4MW Cotton Plains wind plant, the 151.2MW Old Settler facility in Texas, and the 15.4MWAC Phantom Solar facility under construction at the US Army Garrison Fort Hood in Killeen, Texas.
Northleaf's director Jared Waldron said: “Direct investments in fully contracted wind and solar assets are on strategy for Northleaf’s programme, as they offer predictable long-term cash flows and returns for our investors.
“The partnership with Apex is very strategic to us, given its track record as a leading renewable energy company. We look forward to maintaining a productive and long-term relationship.”
Under the terms of a deal announced in January this year, the US Army through the Defense Logistics Agency will acquire the 50.4MW Cotton Plains wind facility and the 15.4MWAC Phantom Solar plant in a bid to provide electricity to Fort Hood.
Apex's president Mark Goodwin said: “Apex is proud to help the largest active-duty armoured post in the US Fort Hood increase its energy resiliency and help accelerate our nation’s overall shift to clean energy.”
The 151.2MW Old Settler wind facility will have the capacity to produce enough clean electricity to power 51,000 average US households.