Apex Clean Energy has secured financing for its 224MW Great Pathfinder onshore wind project in Iowa, US, following the execution of a tax equity commitment from Bank of America.
It follows the close of construction financing in May with Santander Corporate and Investment Banking, Sumitomo Mitsui Banking Corporation and Bank of America acting as coordinating lead arrangers and bookrunners.
Tech giant Meta will offtake power from the wind farm under a long-term PPA for the full capacity of the project. It is Apex’s fifth such transaction with the company.
Great Pathfinder, located in Boone and Hamilton Counties, will feature 66 GE turbines and is currently in construction with commercial operations expected to commence before the end of the year.
Apex Clean Energy CEO Mark Goodwin said: “Apex, as a pure-play renewable energy company, has delivered more than $10bn of clean energy resources to date, with projects in development to support an additional $50bn in wind, solar, storage, and green fuels generation facilities.
“From clean electrons in the grid to green fuels for industry and transport, we are delivering energy solutions to decarbonise sectors across our economy.”
Apex said Great Pathfinder is expected to generate an estimated $73.9m in local tax revenue, $68.8m in payments to landowners, and nearly 300 full-time local jobs during construction.