Apex Clean Energy to pursue 1GW of solar potential in Southern US

Ares Mgmt. Apex Clean Energy

Apex Clean Energy, the clean energy technology company, announced this Thursday it entered into an agreement with Weyerhaeuser to develop up to 1000 megawatts of utility-scale solar plus energy storage projects on Weyerhaeuser property in the southeastern United States.

Firstly, Apex has commercialized more than $10 billion of utility-scale clean energy projects and transacted with utilities, co-ops, and corporations. In fact, for over the past decade, Apex has led the market in sales of clean energy to the C&I market.

Consequently, the collaboration between Apex Clean Energy and Weyerhaeuser will accelerate the shift to clean power; it would do so at a pivotal moment in the energy transition. Ellen Balfrey, Apex’s senior vice president of finance, said about the matter. “This unique collaboration will create opportunities for all types of energy purchasers who are seeking to decarbonize their operations in the coming years.”

He also remarked. “This significant portfolio of clean energy projects will be developed leveraging Weyerhaeuser’s broad and geographically diverse landholdings and Apex’s track record of bringing commercially viable clean energy projects to market.”

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Apex Clean Energy to lead development

On the other hand, Weyerhaeuser owns approximately 11 million acres in the United States. Consequently, the agreement will further strengthen the relationship between the two industry leaders. It will also provide a solid bridge for close coordination and collaboration between the companies to advance potential projects.

Moreover, under the terms of the agreement, Apex will lead on the development of the portfolio; which includes projects that could reach commercial operations as early as 2023. Such development would create a near-term opportunity for power purchasers to meet their decarbonization goals at scale.

Finally, Russell Hagen, senior vice president, and chief development officer for Weyerhaeuser, said. “This agreement with Apex is a great step in advancing Weyerhaeuser’s strategic growth in renewable energy development, and it supports our broader commitment to sustainability and providing natural climate solutions across our land base.”

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