(Source: Shutterstock.com)
Apex Clean Energy has secured financing for the 189-megawatt Timbermill Wind facility, the second wind farm in North Carolina, the company said Dec. 5.
Construction financing was provided by coordinating lead arrangers Helaba, BNP Paribas, SMBC and Societe Generale, while Goldman Sachs made a tax equity investment, Apex said in a news release.
“The successful financing of Timbermill Wind represents a pivotal milestone in North Carolina’s energy transition and underscores the growing demand for wind power in markets across the country,” said Apex Clean Energy CEO Ken Young. “Amid a complex permitting landscape, Timbermill was enabled by strong community support, visionary partnerships, and deep development expertise—and today, the project is already delivering substantial local economic benefits while poised to meet the rising demand for carbon-free power.”
Timbermill Wind is the first wind project approved by North Carolina’s Department of Environmental Quality since state lawmakers passed siting legislation in 2013, according to the news release. Weyerhaeuser is the anchor landowner for the project.
Construction is underway, and commercial operations are expected to begin by year-end 2024. In 2023, Google signed a power purchase agreement with Apex for energy from the wind farm.
Recommended Reading
Oxy’s Hollub Drills Down on CrownRock Deal, More M&A, Net-zero Oil
2024-11-01 - Vicki Hollub is leading Occidental Petroleum through the M&A wave while pioneering oil and gas in EOR and DAC towards the goal of net-zero oil.
US Energy Secretary Nominee Chris Wright Champions Energy at DUG GAS
2024-11-19 - President-elect Donald Trump's energy secretary nominee Chris Wright championed energy's role in bettering human lives earlier this year on stage at Hart Energy’s DUG GAS Conference and Expo.
Empire Raises $10M in Equity Offering to Ease Doubts, Reports $3.6M Loss
2024-11-14 - Empire Petroleum received a waiver from its lender after falling out of compliance with a credit agreement.
Twenty Years Ago, Range Jumpstarted the Marcellus Boom
2024-11-06 - Range Resources launched the Appalachia shale rush, and rising domestic power and LNG demand can trigger it to boom again.
Exxon, Chevron Beat 3Q Estimates, Output Boosts Results
2024-11-01 - Oil giants Chevron and Exxon Mobil reported mixed results for the third quarter, with both companies surpassing Wall Street expectations despite facing different challenges.
Comments
Add new comment
This conversation is moderated according to Hart Energy community rules. Please read the rules before joining the discussion. If you’re experiencing any technical problems, please contact our customer care team.