Virginia’s First Land-Based Wind Farm Closes Financing

Charlottesville, VA – September 10, 2025 – Apex Clean Energy today announced the financing of Rocky Forge Wind, following the execution of construction financing from Canadian Imperial Bank of Commerce (CIBC), New York Branch, and MUFG; and a tax equity commitment from a leading U.S.-based investor. Located in Botetourt County, Virginia, the 79.3 MW facility represents the first land-based wind farm in Apex’s home state—and one of the few in the PJM market.

Through a power purchase agreement, Rocky Forge will support the energy needs of a major corporate offtaker’s operations, helping address the region’s surging demand for reliable, clean electricity. In addition to generating significant local employment opportunities during construction, the project is expected to deliver up to $30 million in economic impact to the surrounding community.

“Rocky Forge is a testament to our team’s determination, execution, and belief in the potential of our home state. It marks a pivotal moment not just for the company, but for Virginia’s energy future,” said Apex Chief Financial Officer Kenny Chernauskas. “This milestone reflects the strong investor confidence driving our work forward—and underscores how Apex and our partners are delivering in even the most complex markets.”

“CIBC is proud to support the successful financing for Rocky Forge Wind as Administrative Agent, Coordinating Lead Arranger, and Green Loan Coordinator,” said CIBC Managing Director and Head of U.S. Project Finance & Infrastructure Peter O’Neill. “We are thrilled to continue our ongoing support of Apex and deliver on our commitment to helping our clients achieve their sustainability ambitions.”

As the latest addition to Apex’s 11 GW portfolio of commercialized projects, Rocky Forge reflects the company’s continued momentum in advancing market-ready energy solutions. The facility features GE turbines and is anticipated to reach commercial operations in late 2026.