Apex secures PPA for 150-MW solar project in Michigan

US renewables developer Apex Clean Energy has signed a power purchase agreement (PPA) for the entire capacity of its 150-MW Coldwater Solar project in Michigan.

The contract is with a “large Michigan-based energy company” and marks Apex’s second deal with this counterparty, the developer said this week.

The project, located in Coldwater and Ovid Townships in Branch County, is set to create more than 200 jobs during construction. It is expected to generate more than USD 30 million (EUR 27m) in new tax revenue and more than USD 35 million to landowners and community participants. The project will also contribute around USD 20 million in funding towards upgrades to the local transmission system.

“As growth in the Great Lakes State accelerates - including a rebound in American manufacturing - the demand for affordable clean power is poised to surge in the coming years,” remarked Apex CEO Ken Young.

In November 2021, funds managed by Ares Management Corp acquired a majority stake in Apex.

(USD 1 = EUR 0.901)

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