(Source: Shutterstock.com)
Apex Clean Energy has secured financing for the 189-megawatt Timbermill Wind facility, the second wind farm in North Carolina, the company said Dec. 5.
Construction financing was provided by coordinating lead arrangers Helaba, BNP Paribas, SMBC and Societe Generale, while Goldman Sachs made a tax equity investment, Apex said in a news release.
“The successful financing of Timbermill Wind represents a pivotal milestone in North Carolina’s energy transition and underscores the growing demand for wind power in markets across the country,” said Apex Clean Energy CEO Ken Young. “Amid a complex permitting landscape, Timbermill was enabled by strong community support, visionary partnerships, and deep development expertise—and today, the project is already delivering substantial local economic benefits while poised to meet the rising demand for carbon-free power.”
Timbermill Wind is the first wind project approved by North Carolina’s Department of Environmental Quality since state lawmakers passed siting legislation in 2013, according to the news release. Weyerhaeuser is the anchor landowner for the project.
Construction is underway, and commercial operations are expected to begin by year-end 2024. In 2023, Google signed a power purchase agreement with Apex for energy from the wind farm.
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