First Reserve Acquires Kingfisher Wind from Apex Clean Energy
Canadian County, OK – January 22, 2015 – First Reserve, the largest global private equity and infrastructure investment firm exclusively focused on energy, today announced an agreement to acquire the Kingfisher Wind power project from Apex Clean Energy (“Apex”), an independent renewable energy company. Kingfisher Wind is a construction-ready 298 MW wind power generation project located in Canadian and Kingfisher Counties.
Kingfisher Wind is expected to bring an estimated $1.5 million per year in new tax revenues to Canadian and Kingfisher Counties. Over the project’s lifetime, this is expected to add up to about $30.8 million to local school districts, including $843,000 per year to Okarche School District and $326,000 per year to Cashion School District. In addition, the project is anticipated to inject about $2 million per year into the local economy through annual payments to local landowners.
Apex is active nationwide, with projects currently in construction in Illinois, Oklahoma, and Texas. In 2012, Apex completed the development and construction management of the 300 MW Canadian Hills Wind facility. Apex also recently announced the sale of the 300 MW Balko Wind project in Beaver County, Oklahoma, as well as power purchase agreements for three Oklahoma projects to serve in-state customers Public Service Company of Oklahoma, Western Farmers Electric Cooperative, and Grand River Dam Authority.
“The completion of Kingfisher Wind should bring new opportunities for our school to further improve our class offerings and quality of education,” said Okarche School Superintendent Rob Friesen. “When the project goes on line, it should bring approximately $800,000 per year to our district. After visiting with other schools who have benefited from this situation, I can see potential to further enhance the educational opportunities for our students.”
Mark Goodwin, Apex Clean Energy President, added, “This transaction highlights Apex’s broad capabilities to deliver turn-key clean energy solutions for our financial partners. Apex will continue its involvement in managing all aspects of Kingfisher Wind, from development and construction through long-term asset management.”
Apex Clean Energy is an independent renewable energy company focused on building utility-scale generation facilities. Apex is building one of the nation’s largest, most diversified portfolios of renewable energy resources, capable of producing over 10,000 MW of clean energy. Apex has announced over 750 MW of power purchase agreements since 2013. In the coming year, Apex will bring five new U.S. wind energy facilities online, comprising over 1,000 MW of capacity. Apex will provide asset management services on three of these facilities, representing over 500 MW of capacity. For more information, please visit www.apexcleanenergy.com.
For Apex media inquiries, please contact:
Dahvi Wilson, Communications Manager