Apex Receives Environmental Finance’s Weather Risk Deal of the Year
Old Settler Wind Recognized for Innovative Financing Structure
Charlottesville, VA – July 11, 2017 – Environmental Finance recently recognized Old Settler Wind, a 151.2 MW Texas wind farm, with its Weather Risk 2017 award. Apex Clean Energy developed, managed construction of, and currently provides asset management services for the wind facility, which generates enough renewable energy to power 51,000 average U.S. homes.
The transaction was completed using a proxy revenue swap that enabled third-party debt financing and tax equity commitments for the renewable portfolio, which also includes 50.4 MW Cotton Plains Wind and 15.4 MW Phantom Solar Wind. This innovative structure enables hedging against risks associated with variabilities in power generation and fluctuating energy prices.
Read more about Old Settler Wind and the award here.