Apex Clean Energy has sold Diamond Spring Wind, a 303 MW project in Oklahoma, to ALLETE Clean Energy.
The transaction includes 15-year power purchase agreements (PPAs) that Apex negotiated with two Fortune 500 companies (to be announced at a later date). The PPAs represent up to 228 MW, with the remaining project capacity also anticipated to serve the commercial and industrial market.
“Corporations are taking a clear leadership position in curbing carbon emissions, and we applaud them for aggressively working to achieve their sustainability goals,” says Mark Goodwin, president and CEO of Apex Clean Energy. “Apex is proud to partner with ALLETE at Diamond Spring Wind, one of several Apex projects this year that is expected to help leaders in the commercial and industrial sectors meet their clean energy commitments.”
Located in Oklahoma’s Johnston and Pontotoc counties, the project will be the largest wind facility owned by ALLETE Clean Energy. It will increase the company’s total wind energy portfolio to approximately 1 GW.
“Serving the corporate and industrial market opens new opportunities for ALLETE Clean Energy,” notes ALLETE Clean Energy’s president, Allan S. Rudeck Jr. “The southern Oklahoma location is strategic in that it provides a new beach-head in the highly attractive Southwest Power Pool, where significant potential exists for serving new customers in the utility and corporate and industrial segments. We are pleased to be working with Apex Clean Energy to bring Diamond Spring to market.”
ALLETE Clean Energy will begin construction on Diamond Spring Wind this year, and the project will enter commercial operations in 2020. The wind farm is expected to contribute more than $48 million in tax revenue to the local communities and more than $54 million in lease payments to landowners.