Apex Closes Sale of 383 MW Isabella Wind Projects to DTE Energy
Largest Wind Farms in Michigan to Serve DTE’s Commercial and Industrial Customers
Charlottesville, VA – May 12, 2021 – Apex Clean Energy today announced the closing of the sale of the Isabella Wind I and II projects to DTE Energy, Michigan’s leading producer of renewable energy, and the start of commercial operations for the facilities. The wind farms, totaling 383 MW and located in Michigan’s Isabella County, are the largest clean energy facilities in the state and in DTE’s portfolio. Apex developed and managed construction of the wind farms, which DTE will operate.
“With stakeholders at every level—from localities and utilities to power buyers and the statehouse—helping drive the transition to clean energy in the Great Lakes State, Apex and DTE brought to life the largest wind projects in the history of Michigan,” said Mark Goodwin, Apex Clean Energy president and CEO. “Alongside partners like DTE, we will continue to pioneer the new energy economy, both in Michigan and beyond.”
The Isabella Wind projects will serve commercial and industrial customers—including Ford, General Motors, and the University of Michigan—who have enrolled in MIGreenPower, DTE’s voluntary renewable energy program.
The projects were supported by a construction loan from KeyBank and CoBank, ACB as coordinating lead arrangers, Rabobank as joint lead arranger, and Sumitomo Mitsui Trust Bank as lender.
The Isabella Wind facilities will generate approximately $30 million in tax revenue for the local community, $100 million in landowner payments over the lifetime of the project, more than 350 jobs during construction, up to 20 long-term operations and maintenance positions, and enough clean energy to power the equivalent of 86,000 average U.S. homes. The wind farms will also displace nearly 700,000 tons of carbon dioxide annually, according to the EPA’s AVERT tool.
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 250 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.
About DTE Energy
DTE Energy (NYSE: DTE) is a Detroit-based diversified energy company involved in the development and management of energy-related businesses and services nationwide. Its operating units include an electric company serving 2.2 million customers in Southeast Michigan and a natural gas company serving 1.3 million customers in Michigan. The DTE portfolio includes energy businesses focused on power and industrial projects, renewable natural gas, natural gas pipelines, gathering and storage, and energy marketing and trading. As an environmental leader, DTE will reduce carbon dioxide and methane emissions by more than 80% by 2040 to produce cleaner energy while keeping it safe, reliable and affordable. DTE is committed to serving with its energy through volunteerism, education and employment initiatives, philanthropy and economic progress. Information about DTE is available at dteenergy.com, empoweringmichigan.com, twitter.com/dte_energy and facebook.com.