Apex Clean Energy secures US$200m refinancing

Share on facebook
Facebook
Share on twitter
Twitter
Share on linkedin
LinkedIn
Share on reddit
Reddit
Share on email
Email
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

November 8, 2021
Andor Savelkouls and Jonathan Bell of Altenex Energy, a subsidiary of Edison Energy, assess the flaws in how corporates currently procure renewable electricity, and how slight tweaks to the system can make it more accurate and cleaner.
November 2, 2021
Grid outages in Australia dented the performance of UK-based solar asset owner Foresight Solar Fund (FSFL) in the first nine months of the year.
PV Tech Premium
October 27, 2021
As prices rise and component availability remains tight, both solar’s upstream and downstream are rallying behind the common cause of ensuring which projects can go ahead, do go ahead in a timely fashion. Liam Stoker assesses the industry’s efforts to keep the supply chain moving forward.
October 25, 2021
Global renewables industries are expectant as COP26 looms, however supply chain volatility has continued to dent deployment prospects going into a crucial decade. We discuss this and much more in this month's Solar Media Podcast.
October 21, 2021
Tesla solar installations jumped by 46% year-on-year but fell slightly sequentially to 83MW in Q3 as the clean tech giant targeting greater profitability from its energy division.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
December 1, 2021
Solar Media Events
February 1, 2022
London, UK
Solar Media Events
February 23, 2022
London, UK
Solar Media Events
March 23, 2022
Austin, Texas, USA
Solar Media Events
March 29, 2022
Lisbon, Portugal