US renewable energy developer Apex Clean Energy has sold a minority stake in a 339MW operational US solar PV and wind power project portfolio.
The company sold a 49% stake in the portfolio to Electricity Generating Public Company Limited (EGCO Group), a Thailand-based energy developer and investor. The portfolio comprises the 150MW Coldwater solar project in Michigan and the 189MW Timbermill wind project in North Carolina.
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Apex will retain a 51% majority stake in the projects, both of which are contracted under long-term power purchase agreements (PPAs).
This is the second capital recycling deal Apex and EGCO Group have made, following an October 2025 deal for a pair of solar and wind projects in which ECGO Group took another 49% minority stake.
“Timbermill and Coldwater are high-performing assets delivering for their host communities, and this transaction lets us put that value to work on what we’re building next, at a moment when the country needs new generation faster than it’s being built,” said Ken Young, CEO of Apex Clean Energy.
Apex Clean Energy has 2.2GW of US energy assets either operational or under construction. Its largest presence for operational projects is in Texas, where it operates a number of wind, solar and energy storage projects.
The company claimed its capital recycling programme, through which it aims to generate funds from its existing assets to support new developments, has now brought investments into 900MW of wind and solar projects across the US.
Apex is majority-owned by funds managed by private equity firm Ares Management Corporation.
