Apex finances Virginia wind
Apex Clean Energy has closed on US$269.8m in construction financing from CIBC and MUFG and a tax equity commitment for the 79.3MW Rocky Forge wind farm in Virginia.
The construction financing comprises a US$149.6m bridge loan due in January 2027 and US$93.4m term loan and standby letters of credit at US$8.3m, US$8m, US$7.8m and US$2.5m, all due in January 2033.
Rocky Forge has a power purchase agreement with Google for the project's capacity. The project is expected to reach commercial operations in late 2026. The identity of the tax equity investor was not disclosed. The partnership is the second between Apex and Google following the 189MW Timbermill wind farm in North Carolina, for which Apex also closed construction and tax equity financing.
