A subsidiary of Apex Clean Energy has signed a Renewable Energy Purchase Agreement (REPA) with Western Farmers Electric Cooperative (WFEC) to purchase 50 MW of wind energy from the developer's Grant Wind project, located in Oklahoma.
According to Apex, the REPA contract is the second transaction signed with the co-op. Two years ago, WFEC acquired 100 MW of Apex Wind through a similar REPA deal.
Apex notes that the Grant Wind project is projected to provide more than $28.7 million in tax revenue to fund community schools, roads and other local needs over the life of the project. Approximately $1 million will be paid annually to Oklahoma landowners who hold leases for the Grant Wind project. Additionally, it is estimated the project will bring more than $182 million in economic activity to the Grant County area with approximately 61 jobs for the construction and operation of the wind farm.
The wind farm is expected to become operational later this year.
