Apex Wind Energy Acquires Outer Banks Ocean Energy, LLC
Charlottesville, VA – July 14, 2010 – Apex Offshore Wind, LLC, a subsidiary of Apex Wind Energy Holdings, LLC., today announced an agreement to acquire Outer Banks Ocean Energy Corporation (“OBOE”), a North Carolina-based developer of utility‐scale offshore wind energy. “This transaction is a great fit for us—it brings two experienced teams together in an effort to capture an abundant renewable energy resource while bringing new industry to the area,” said Jim Trousdale, CFO of Apex. “The OBOE team has broad expertise that includes energy development and ocean sciences, which will be important for the success of future offshore projects.”
“We were looking for a strategic partner to accelerate the development of our projects,” said Dr. John Bane, who is a co-founder of OBOE and the Director of Graduate Studies in the Department of Marine Sciences at UNC, Chapel Hill where he conducts research on Gulf Stream dynamics and coastal air-sea interaction processes. “Apex shares our long-term view of the renewable energy industry and recognizes the importance of offshore wind energy development.”
The North Carolina project will be located over 20 miles off the coast between Cape Lookout and Cape Fear. The project is sited to minimize impact to scenic resources and avoid sensitive habitats and Department of Defense training areas and buffer zones.
Outer Banks Ocean Energy
Outer Banks Ocean Energy was founded in 2008 to develop utility-scale offshore energy. The company was the first renewable energy company to focus on offshore wind energy development near North Carolina. The company is led by a highly capable senior management team averaging 30 years of relevant business development experience and environmental science and engineering expertise.
About Apex Wind Energy, Inc.
Apex Wind Energy Holdings, LLC (“Apex”) is a national wind energy company formed to develop, build, own and operate wind energy facilities. Working together with landowners and their communities, Apex develops facilities that produce local jobs, income, and clean energy. The Apex team has 85 years of combined industry experience including the development, procurement, construction and financing of over $8 billion of wind energy facilities now in commercial operations. With comprehensive in-house capabilities including meteorology, civil and electrical engineering, Geographic Information Systems analysis and mapping, procurement, legal and project finance, Apex combines technical expertise and industry best practices to deliver clean energy from the wind.
Founded by Greenlight Energy Resources, Inc. a renewable energy investment company, Apex is based in Charlottesville, Virginia with regional offices throughout the country.