Apex Signs Energy Storage Joint Venture with SK Gas and SK D&D

Partnership to Advance Texas Storage Facility with More MW Anticipated

Charlottesville, VA – January 16, 2024 – Apex Clean Energy today announced a joint venture with SK Gas, Korea’s leading energy company, and SK D&D, Korea’s leading green energy developer, to own energy storage facilities in the United States. The joint venture, SA Grid Solutions, owns Great Kiskadee, a utility-scale battery project under construction in Texas, and anticipates purchasing and advancing additional Apex storage projects in the future.

The joint venture is funded 60% by SK and 40% by Apex, which will manage the construction and subsequent operations and optimization of the facility and any to come.

“Great Kiskadee represents the first project in this shared vision, with the potential for hundreds more megawatts of energy storage to come,” said Ken Young, Apex Clean Energy CEO. “Our collaboration with SK Gas and SK D&D, a first-time partner with shared values, will enable Apex to swiftly accelerate the deployment of our development-stage storage portfolio, comprising more than 13 GW across the United States.”

Byung Suk Yoon, CEO of SK Gas, stated, “I am pleased to collaborate with Apex, a strong local partner in the United States, as well as SK D&D. The energy storage system (ESS) business is indispensable to expanding renewable power generation and offers long-term sustainability and significant social value. By contributing to power supply stabilization and supporting the growth of renewable energy through ESS, we aim to realize our vision of becoming a net-zero solution provider.”

“Based on SK D&D’s capabilities, we are looking forward to entering the rapidly growing U.S. market with SK Gas and Apex,” said Do Hyun Kim, CEO of SK D&D. “We will continue to create new opportunities such as ESS-based power transactions in the U.S. market and contribute to preoccupying the domestic ESS market, strengthening the competitiveness of the power brokerage business.”

Great Kiskadee Storage, located in Hidalgo, Texas, will deliver 100 MW/200 MWh of capacity to the ERCOT grid with a two-hour battery duration; the next project slated for purchased by the JV is of similar size and duration.

Great Kiskadee is expected to begin commercial operations in 2024 and will generate approximately 50 jobs during construction and more than $12.6 million in tax revenue over its lifetime.

About Apex Clean Energy

Apex Clean Energy was founded with a singular focus: to accelerate the shift to clean energy. Through origination, construction, and operation of utility-scale wind, solar, and storage facilities, distributed energy resources, and green fuel technologies, Apex is expanding the renewable frontier across North America. Our mission-driven team of more than 400 professionals 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 about how Apex is building the energy company of the future, visit apexcleanenergy.com or follow us on Facebook, YouTube, and LinkedIn.

About SK Gas

SK Gas is Korea’s No.1 liquefied petroleum gas (LPG) company. With the world’s largest LPG storage facilities and its nationwide distribution network, SK Gas ensures stable and reliable supply for LPG, providing a versatile resource for markets around the world. The company is also diversifying its business portfolio to power generation, LNG, hydrogen and renewables. SK Gas is in the process of establishing power plant ‘Ulsan GPS (Gas Power Solution)’ the world’s first LNG-LPG dual fuel power plant and LNG Terminal ‘KET (Korea Energy Terminal)’ in Ulsan. In addition, the company is relentlessly expanding the foundation of its hydrogen and renewables business through the establishment of joint ventures and investments both domestically and internationally. SK Gas aims to continue to move forward as a ‘Net Zero Solution Provider’ to become a formidable force in the global energy market through a continuous commitment to business innovation. For more information about SK Gas, visit eng.skgas.co.kr or follow us on YouTube and LinkedIn.

About SK D&D

SK D&D is Korea’s top-tier Green Energy Provider, encompassing wind power, fuel cells, solar and ESS. The company is the No.1 peak-cut ESS player in Korea, providing services in all areas of installation, operation and maintenance including financing. It operates a total of 800MWh of ESS in 29 sites nationwide and has a total of 647MW in its wind power pipeline, including 83MW of onshore operation, which is one of the largest among private companies in Korea. Furthermore, it has a 400MW fuel cells pipeline including current 69MW in operation or under construction. In pursuit of sustainable growth, SK D&D is expanding its business area beyond the development to the field of operation and platforms/solutions, laying the foundation for the VPP platform with strategic alliance with leading domestic and international partners. For more information about SK D&D, visit skdnd.com.

Engage with Apex Clean Energy

Subscribe to our newsletter for regular updates and news about Apex and the energy transition.