Apex Closes Three Utility-Scale Project Financings Across U.S. Markets

Charlottesville, VA – January 12, 2026 – Apex Clean Energy today announced the successful financing of three utility-scale renewable energy assets across Texas, Ohio, and Illinois, marking a significant year-end milestone and reinforcing the company’s ability to execute at scale. The financings comprise Coles Wind, a MISO wind project and Apex’s largest project-level transaction to date; Emerson Creek Wind, a large-scale wind project in the PJM market; and Raven Storage, an energy storage project in ERCOT. Together, these transactions represent nearly 670 MW of capacity and approximately $2.79 billion in financial commitments supporting the construction and operation of the three assets—contributing to a total of $4.08 billion financed across Apex’s portfolio in 2025.

“Raven, Emerson Creek, and Coles reflect the collaboration of committed partners and dedicated teams working together to deliver complex projects,” said Ken Young, Apex CEO. “As we move into 2026, we are focused on disciplined execution, converting a deep development pipeline into operating assets, and delivering performance for the communities, customers, and partners we serve.”

Raven Storage, a 100 MW battery storage system located in Wharton County, Texas, is part of SA Grid Solutions, a joint venture between Apex Clean Energy, SK Gas, and SK Eternix, and marks Apex’s first financing with Bank of Hope. Emerson Creek Wind, a 269 MW wind farm located in Erie and Huron Counties, Ohio, was financed with a fully underwritten construction and term loan and letter of credit facility from CIBC, Helaba, and Santander and a tax equity commitment from Wells Fargo. Coles Wind, a 300 MW wind facility in Coles County, Illinois, secured construction and term financing underwritten by Santander, with J.P. Morgan serving as sole tax equity partner. Collectively, the projects underscore Apex’s ability to execute across diverse technologies and markets, supported by strong and collaborative financing partnerships.

The financings close out a year of meaningful progress across Apex’s business. In 2025, the company brought 1.1 GW of new capacity online across six states—including Bowman Wind, a 200 MW project in North Dakota that achieved commercial operations in December—commercialized more than 1.5 GW of projects, and advanced a large, diversified portfolio of development assets, reinforcing the scale and durability of its platform. During the year, Apex also secured $1.05 billion in corporate refinancing and launched a conservation partnership with Ducks Unlimited.

Looking to 2026, Apex enters the year with financed projects moving forward, operating assets delivering power, and a development portfolio aligned with evolving market and grid needs. With proven execution across markets, technologies, and transaction structures, the company is positioned to translate momentum into results, focusing on consistent delivery, operational performance, and long-term value creation in the year ahead.