Apex Clean Energy has secured financing for the 224 MW Great Pathfinder wind project in Boone and Hamilton Counties, Iowa, following the execution of a tax equity commitment from Bank of America.
In May, Apex Clean Energy closed on construction financing with Santander, Sumitomo Mitsui Banking, and Bank of America acting as coordinating lead arrangers and book-runners. Santander is also serving as administrative agent.
Great Pathfinder Wind will support Meta’s operations under a power purchase agreement. The PPA represents Apex’s fifth such transaction with Meta.
“Apex, as a pure-play renewable energy company, has delivered more than $10 billion of clean energy resources to date, with projects in development to support an additional $50 billion in wind, solar, storage, and green fuels generation facilities,” said Mark Goodwin, Apex Clean Energy president and CEO.
Great Pathfinder Wind is currently under construction and is expected to begin operations in Q4 2022. Apex is providing construction management services for the project and IEA Constructors, a subsidiary of Infrastructure and Energy Alternatives, is constructing the project, which consists of 66 GE wind turbine generators.
The wind power facility will generate an estimated $73.9 million in local tax revenue, $68.8 million in payments to landowners, and nearly 300 full-time local jobs during construction.