ALLETE Clean Energy has expanded its holdings of wind energy projects in Oklahoma by buying the 303 megawatt Caddo Wind farm in the western part of the state.
The Minnesota-based company made the purchase from Apex Clean Energy and plans to sell power to three Fortune 500 customers to be announced at a later date. The Caddo Wind project is located in Caddo County.
No sales price was disclosed in the Thursday announcement. But the purchase brings ALLETE’s installed wind capacity to more than 1,340 megawatts. One of the company’s newest wind farms is the Diamond Spring wind project east of Ardmore in southern Oklahoma where commercial and industrial power will be sold to Walmart, Starbucks and Smithfield Foods.
“Apex and ALLETE have fostered a strong partnership, and we are thrilled to once again work together, in tandem with leaders in corporate procurement, to bring a project to life that will expand the clean energy market,” said Mark Goodwin, president and CEO of Apex Clean Energy. “Caddo Wind embodies the traits of an ideal wind project—including an exceptional wind resource and access to transmission—at a time when the market for renewable energy is surging to new heights.”
In 2019, Apex led the industry in transactions involving corporations, signing nearly 2 GW of renewable energy deals that will supply private sector leaders. The Caddo Wind project will double ALLETE’s presence in the corporate clean energy market.
“When the Caddo Wind project comes online, we expect nearly half of our total wind capacity will be sold into the corporate market with strong, creditworthy offtakers and under long-term contracts,” said ALLETE Clean Energy president Allan S. Rudeck Jr. “We’re honored to help corporate customers reduce their carbon footprint and reach their clean energy goals. We’re also proud to be working with Apex Clean Energy again as we finalize development in partnership with local residents, landowners, and policymakers, and build assets that position ALLETE Clean Energy for long-term growth.”
Caddo Wind builds on Apex and ALLETE’s record of partnership in Oklahoma, including the purchase of Apex’s 303 MW Diamond Spring Wind by ALLETE in 2019. Caddo will generate $50 million in tax revenue, $54 million in payments to landowners, approximately 200 full-time jobs during construction, and 12 to 15 long-term operations positions over the life of the project.
Source: Apex Energy release