Apex Clean Energy has announced the sale of the 303 MW Caddo wind project to Allete Clean Energy, which plans to sell power to three Fortune 500 customers.
Apex Clean Energy has announced the sale of the 303 MW Caddo Wind project to Allete Clean Energy, a wholly-owned subsidiary of ALLETE. The purchase includes plans to sell power to three Fortune 500 customers.
“Apex and Allete have fostered a strong partnership, and we are thrilled to once again work together, in tandem with leaders in corporate procurement, to bring a project to life that will expand the clean energy market,” said Mark Goodwin, president, and CEO of Apex Clean Energy. “Caddo Wind embodies the traits of an ideal wind project—including an exceptional wind resource and access to transmission—at a time when the market for renewable energy is surging to new heights.”
In 2019, Apex led the industry in transactions involving corporations, signing nearly 2 GW of renewable energy deals that will supply private sector leaders. The Caddo Wind project builds on this strong history for Apex and will double Allete’s presence in the corporate clean energy market.
“When the Caddo Wind project comes online, we expect nearly half of our total wind capacity will be sold into the corporate market with strong, creditworthy off-takers and under long-term contracts,” said Allete Clean Energy president Allan S. Rudeck Jr. “We’re honoured to help corporate customers reduce their carbon footprint and reach their clean energy goals. We’re also proud to be working with Apex Clean Energy again as we finalise development in partnership with local residents, landowners, and policymakers.”
The project, located in Caddo County, Oklahoma, will increase Allete Clean Energy’s total installed wind capacity to more than 1,340 megawatts.
Caddo Wind builds on Apex and Allete’s record of partnership in Oklahoma, including the purchase of Apex’s 303 MW Diamond Spring Wind by Allete in 2019. Caddo will generate USD 50 million in tax revenue, USD 54 million in payments to landowners, approximately 200 full-time jobs during construction, and 12 to 15 long-term operations positions over the life of the project.