It’s a simple concept. Uncertainty increases risk, and risk chills investment markets.
For the past two decades, our sector has operated under recurring periods of uncertainty. The politics surrounding incentives for utility-scale clean energy development resulted in a constant boom/bust cycle, unrelated to actual market demand and energy pricing.
Recently, the industry has experienced tailwinds as major corporations have committed to 100% clean energy, 21 state governments have set 100% clean energy or net-zero goals, and global infrastructure investors increasingly partner with forward-thinking solutions providers like Apex to fight climate change.
Yet the market remained constrained, lacking clear direction from the federal government about its commitment to the energy transition.
All of that changed in August.
The Power of Certainty
With a stroke of his pen, President Joe Biden provided the long-term runway our sector needed by signing the most significant climate legislation ever passed by Congress—signaling to global capital markets that America will indeed lead the next decade of decarbonization.
Although the projections resulting from the Inflation Reduction Act show carbon emissions falling by approximately 40% from 2005 levels by 2030, it’s important to remember one thing: the passage of this legislation relies on the execution capabilities of companies like Apex and our partners. Our ability to capitalize on this moment is dependent on the momentum we have established, the team we have built, the entrepreneurship in our spirit, and our willingness to pioneer new solutions.
Unlocking New Potential
As we work toward a clean energy future, the United States has a chance to lead the world in decarbonizing the hardest-to-abate sectors: global transport, heavy industry, and agriculture. The recently signed legislation also provides unprecedented support for new technologies such as green hydrogen and derivative clean fuels.
Even before the legislation passed, Apex was forging the path on hydrogen. First, we partnered with Plug Power on the largest green hydrogen power purchase agreement in the United States, totaling 345 MW.
Our ability to capitalize on this moment is dependent on the momentum we have established, the team we have built, the entrepreneurship in our spirit, and our willingness to pioneer new solutions.
But that was just the prelude for this year’s announcement of the launch of Avante Green Fuels, an unprecedented partnership joining Apex with Ares Management, EPIC Midstream, and the Port of Corpus Christi to produce green hydrogen in volumes not yet seen in our nation and provide a model for subsequent projects in its wake. Comprising hybrid wind, solar, and battery storage facilities co-located with electrolyzers across Texas, the project will deliver these game-changing fuels precisely where they are needed most—at the industrial backbone of our nation. Avante is also positioned to meet escalating global demand in response to conflict and crisis abroad.
This is the government and the private sector aligning to truly unleash American energy innovation. Our mission is aligned with the universal call to action to address climate change.
The entrepreneurial team at Apex—energy industry veterans alongside a diverse and fast-growing next generation of professionals motivated by our mission—is making it happen.