Apex Clean Energy Expands Partnership with McDonald’s
PPAs Position McDonald’s as Top Corporate Purchaser from C&I Market Leader Apex
Charlottesville, VA – December 7, 2020 – Apex Clean Energy today announced two power purchase agreements (PPA) executed with McDonald’s (NYSE: MCD) totaling 326 MW of wind energy. McDonald’s will purchase 200 MW from Caddo Wind, located in Caddo County, Oklahoma, and 126 MW from Lincoln Land Wind, located in Morgan County, Illinois.
The newly announced PPAs build on the restaurant company’s previous purchase of 220 MW from Apex-developed Aviator Wind West, located in Coke County, Texas. Aviator Wind, owned by Consumers Energy, Kansai Electric, and Ares Management Corporation’s Infrastructure and Power, commenced operations in September 2020.
Combined, the 546 MW of total clean power purchases position McDonald’s as Apex’s largest single offtake entity and corporate buyer.
“Apex is thrilled to be a long-term partner of McDonald’s in its efforts to leverage its scale to create a healthier planet for generations to come,” said Mark Goodwin, president and CEO of Apex Clean Energy. “These agreements signify McDonald’s rising leadership in clean energy investment and its dedication to fostering resilient and sustainable communities. Across America, hundreds of rural towns and counties are being transformed through jobs and economic benefits delivered by renewable energy projects, and they are poised to rebound from recent economic insecurity stronger than before.”
“As one of the world’s largest restaurant companies, McDonald’s is uniquely positioned to catalyze action around climate change,” said Emma Cox, North American Sustainability at McDonald’s. “Our renewable energy projects with Apex will directly and immediately touch the lives of those living within these local communities and will also play a key role in how we feed and foster communities across the globe.”
The 303 MW Caddo Wind project was developed by Apex and sold to ALLETE Clean Energy in March 2020 (NYSE: ALE). Caddo Wind represents the second transaction between the two companies, following the 2019 sale of the 303 MW Diamond Spring Wind, which is also located in Oklahoma and came online earlier this fall. Across both projects, Apex and ALLETE Clean Energy have delivered PPAs totaling more than 600 MW with six different corporate offtakers. Together, Apex and ALLETE Clean Energy negotiated the Caddo PPA and are working to complete development and construction of the project, which is expected to be operational in late 2021.
The 300 MW Lincoln Land Wind project is currently under development by Apex and is expected to begin commercial operations in late 2021. The project, including another corporate PPA announced earlier in 2020, is fully contracted.
In 2019, Apex led the industry in power transactions involving corporations, signing nearly 2 GW of renewable energy deals. Apex recently released “State of the Corporate Clean Energy Market: Perspectives and Best Practices,” a white paper offering corporate clean energy buyers a detailed look at solutions available to fit diverse needs and priorities.
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 apexcleanenergy.com or follow us on Facebook, Twitter, and LinkedIn.