Apex Energy and Weyerhaeuser make a deal

Funds Managed by Ares Management to Acquire Majority Stake in Apex Clean Energy | Business Wire


One of Oklahoma’s wind farm operators, Apex Clean Energy announced an agreement with Weyerhaeuser to develop 1,000 megawatts of solar and solar-plus-storage projects on Weyerhaeuser property in the southeastern part of the U.S.

Weyerhaeuser has extensive lumber operations in southeast Oklahoma as well. The company has commercialized more than $10 billion of utility-scale clean energy projects and transacted with utilities, co-ops, and corporations. Over the past decade, Apex has led the market in sales of clean energy to the C&I market. This collaboration between two industry leaders will accelerate the shift to clean power at a pivotal moment in the energy transition.

“This significant portfolio of clean energy projects will be developed leveraging Weyerhaeuser’s broad and geographically diverse landholdings and Apex’s track record of bringing commercially viable clean energy projects to market,” said Ellen Balfrey, Apex’s senior vice president of finance. “This unique collaboration will create opportunities for all types of energy purchasers who are seeking to decarbonize their operations in the coming years.”

“This agreement with Apex is a great step in advancing Weyerhaeuser’s strategic growth in renewable energy development, and it supports our broader commitment to sustainability and providing natural climate solutions across our land base,” said Russell Hagen, senior vice president and chief development officer for Weyerhaeuser.

Weyerhaeuser tops list of U.S. lumber producers

Weyerhaeuser owns approximately 11 million acres in the United States. The agreement, which builds on a strong working relationship between Apex and Weyerhaeuser, will enable close coordination and collaboration between the companies to advance potential projects. Apex will lead on development of the portfolio, which includes projects that could reach commercial operations as early as 2023, creating a near-term opportunity for power purchasers to meet their decarbonization goals at scale.