US developer Apex Clean Energy has sold a majority stake in a 217MW renewables portfolio in Texas to asset manager Northleaf Capital Partners.
The deal includes the 50.4MW Cotton Plains and 151.2MW Old Settler wind farms in Floyd County as well as the 15.4MW Phantom Solar project being built at US Army Garrison Fort Hood in Killeen.
The companies have also arranged debt financing and tax equity commitments for the projects, Apax said without giving more details.
Two of the facilities, Cotton Plains and the solar park, have a contract to sell their power to the Ford Hood army garrison, one of the largest in the country.
Fagen is serving as the balance-of-plant contractor on the wind projects, which will feature 84 GE turbines, while Phoenix Solar is building the photovoltaic plant.
“Direct investments in fully contracted wind and solar assets are on strategy for Northleaf’s program, as they offer predictable long-term cash flows and returns for our investors,” Northleaf director Jared Waldron said. “The partnership with Apex is very strategic to us, given its track record as a leading renewable energy company.”
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