Apex Clean Energy secures US$200m refinancing

Apex Clean Energy has closed its refinancing round with US$200 million Image: Delaware Cooperative Extension / Flickr

Apex Clean Energy has closed its refinancing round with US$200 million to develop more utility-scale wind, solar and storage projects in the US.

The renewables operator signed a deal with a family office led by green financing groups Zoma Capital and Plexus Solutions to fund Apex’s future projects as the size of the country’s solar market is expected to surge over the coming years.

Investment had slowed down over the course of 2020 due to supply chain disruption and construction delays brought on by the global health crisis. However, market analysts predict this is a temporary issue and funding for renewables projects and entities will return to pre-COVID-19 levels next year, particularly with the climate-conscious Biden administration set to take office in January.

Mark Goodwin, president and chief executive of Apex Clean Energy, said the $200 million investment will “help shape the future of the American energy sector as we transition our economy to renewable resources”.

Research carried out by the Solar Energy Industries Association (SEIA) and Wood Mackenzie predicts that, due to project delays and demand from the Investment Tax Credit project completion deadline on 31 December 2023, next year could be record-breaking for US non-residential solar at nearly 2.4GWdc.

Apex Clean Energy has commercialised US$8.7 billion of wind and solar projects since its founding in 2009, with an overall clean energy capacity of 6.5GW. It also operates the largest renewable energy project serving the US Army: a hybrid PV and wind plant that was built in Fort Hood, Texas, in 2017.

Read Next

August 3, 2022
Tata Power subsidiary Tata Power Green Energy has commissioned a 225MW hybrid wind and solar project in the Indian solar hotbed state of Rajasthan.
July 18, 2022
African power company Ncondezi Energy has launched a feasibility study for a hybrid solar-storage project earmarked for Mozambique.
PV Tech Premium
July 6, 2022
The company behind a renewables project that will feature 7GW of solar PV and 5GW / 20GWh of battery storage in Morocco is progressing with offshore surveying for four high-voltage direct current (HVDC) cables that will eventually connect the installation exclusively to the UK.
May 25, 2022
Shell has tasked renewables monitoring and control firm Inaccess to optimise a 100MW solar-wind hybrid project in the Netherlands.
May 17, 2022
German utility giant RWE has issued a green bond with a volume of €2 billion (US$2.1 billion), the proceeds of which will be used to pursue development of solar and wind projects.
PV Tech Premium
May 9, 2022
The solar industry’s manufacturing footprint, and indeed the projects themselves, are becoming ever larger, with more panels and other associated equipment being packaged and shipped globally. Now, as Emilie Oxel O’Leary, CEO at Green Clean Solar explains, the industry is getting serious on its end of life obligations and establishing a true circular economy

Subscribe to Newsletter

Upcoming Events

Solar Media Events
October 4, 2022
New York, USA
On-Demand Webinars, Solar Media Events
October 11, 2022
Virtual event
Upcoming Webinars
October 18, 2022
10am (EDT) / 4pm (CEST)