Apex Closes Financing for 150 MW Spring Creek Solar

Charlottesville, VA – October 1, 2026 – Apex Clean Energy today announced the financing of the 150 MW Spring Creek Solar facility, totaling more than $589 million. Helaba and KeyBank provided the construction and term loan financing. Barclays provided the tax equity commitment, its first such investment with Apex after years of partnership at the corporate level.

Located in Macon County, Illinois, Spring Creek will add new solar capacity to the MISO grid as demand across the region climbs.

The project deepens a relationship with the Illinois Power Agency that now spans six financed projects and more than $3.5 billion invested in the state, with facilities both in operation and under construction. Once all are online, those facilities will generate enough energy to power approximately 400,000 homes through the utilities serving Illinois customers.

“We’re grateful to Helaba, KeyBank, and Barclays for their partnership on Spring Creek and for the deep expertise they brought to the transaction,” said Kenny Chernauskas, Apex chief financial officer. “This milestone moves Spring Creek toward construction: crews at work, affordable domestic energy on the grid, and decades of economic benefit for Macon County.”

Spring Creek Solar will generate more than $22 million in tax revenue over its lifetime, including nearly $15 million for local school districts, alongside a new source of income for participating landowners and nearly 350 jobs during construction.

The project is expected to begin commercial operations in 2027.

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