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Apex Clean Energy announced the financing of the Great Pathfinder Wind Project, a 224 MW project. This was in response to a Bank of America tax equity commitment. Apex secured construction financing in May with Santander Corporate and Investment Banking, Sumitomo Mitsui Banking Corporation and Bank of America as the coordinating lead arrangers and bookrunners. Santander also serves as an administrative agent. To support the 2022 date of commercial operations, Santander was appointed as an administrative agent.
Great Pathfinder Wind will be supporting Meta’s operations once the PPA is completed. This agreement provides for a long-term power purchase agreement to ensure the project’s full capacity. Apex’s fifth transaction in this manner with Meta is the PPA.
Apex, a pure-play renewable energy firm, has delivered more that $10 billion in clean energy resources. Projects are in development to support $50 billion more in wind, solar and storage.” Apex Clean Energy CEO Mark Goodwin said,” We are providing energy solutions that decarbonize all sectors of our economy, from clean electrons in the grid to transport and industry fuels. Apex is the energy company for the future.”
Great Pathfinder Wind is located in Boone and hamilton County, Iowa. It is currently being constructed and will be operational in Q4 2022. Apex provides construction management services to the project. IEA Constructors, a wholly-owned subsidiary of Infrastructure and Energy Alternatives, Inc., constructs the project, which consists 66 GE turbine generators.
The wind facility is expected to generate $73.9 million in local tax revenue and $68.8million in payments to landowners. It will also create nearly 300 full-time jobs in the local community during construction.
