ALLETE Clean Energy Purchases Apex Clean Energy’s Caddo Wind Project
Companies Partner Once More to Satisfy Growing Demand for Clean Energy
Charlottesville, VA – March 12, 2020 – Apex Clean Energy today announced the sale of the 303 MW Caddo Wind to ALLETE Clean Energy, a wholly owned subsidiary of ALLETE (NYSE: ALE). The purchase includes plans to sell power to three Fortune 500 customers (to be announced at a later date).
“Apex and ALLETE have fostered a strong partnership, and we are thrilled to once again work together, in tandem with leaders in corporate procurement, to bring a project to life that will expand the clean energy market,” said Mark Goodwin, president and CEO of Apex Clean Energy. “Caddo Wind embodies the traits of an ideal wind project—including an exceptional wind resource and access to transmission—at a time when the market for renewable energy is surging to new heights.”
In 2019, Apex led the industry in transactions involving corporations, signing nearly 2 GW of renewable energy deals that will supply private sector leaders. The Caddo Wind project builds on this strong history for Apex and will double ALLETE’s presence in the corporate clean energy market.
“When the Caddo Wind project comes online, we expect nearly half of our total wind capacity will be sold into the corporate market with strong, creditworthy offtakers and under long-term contracts,” said ALLETE Clean Energy president Allan S. Rudeck Jr. “We’re honored to help corporate customers reduce their carbon footprint and reach their clean energy goals. We’re also proud to be working with Apex Clean Energy again as we finalize development in partnership with local residents, landowners, and policymakers, and build assets that position ALLETE Clean Energy for long-term growth.”
The project, located in Caddo County, Oklahoma, will increase ALLETE Clean Energy’s total installed wind capacity to more than 1,340 megawatts.
Caddo Wind builds on Apex and ALLETE’s record of partnership in Oklahoma, including the purchase of Apex’s 303 MW Diamond Spring Wind by ALLETE in 2019. Caddo will generate $50 million in tax revenue, $54 million in payments to landowners, approximately 200 full-time jobs during construction, and 12 to 15 long-term operations positions over the life of the project.
About Apex Clean Energy
Apex Clean Energy develops, constructs, and operates utility-scale wind and solar power facilities across North America. Our mission-driven team of more than 200 renewable energy experts uses a data-focused approach and an unrivaled portfolio of projects to create solutions for the world’s most innovative and forward-thinking customers. For more information on how Apex is leading the transition to a clean energy future, visit www.apexcleanenergy.com or follow us on Facebook, Twitter, and LinkedIn.
About ALLETE Clean Energy
ALLETE Clean Energy acquires, develops and operates clean and renewable energy projects. ALLETE Clean Energy currently owns, operates, is constructing and commissioning approximately 1,340 megawatts of nameplate capacity wind energy generation across seven states, all contracted under PSAs of various durations. ALLETE Clean Energy also engages in the development of wind energy facilities to operate under long-term PSAs or for sale to others upon completion.
Apex Clean Energy
Director | Corporate Communications
ALLETE Clean Energy
Manager, Corporate Communications