Apex Clean Energy successfully closed approximately $2.79 billion in financing for three utility-scale projects totaling nearly 670 MW across Illinois, Ohio, and Texas.
The massive $2.79 billion capital injection powers the construction of the 300 MW Coles Wind facility in Illinois (MISO market), the 269 MW Emerson Creek Wind project in Ohio (PJM market), and the crucial 100 MW Raven Storage battery system in Texas (ERCOT market).
Turbine installation for the Coles Wind project is scheduled to take place between August 2026 and April 2027, with the project expected to reach full commercial operation in May 2027. Construction on the project, including initial site and road improvements, is expected to commence in February 2026.
The financing was secured through a high-profile consortium of top-tier financial institutions, including construction and term loans led by CIBC, Santander, and Helaba, alongside significant tax equity commitments from powerhouses like Wells Fargo and J.P. Morgan.
CEO Ken Young stated that the company’s focus for 2026 is “disciplined execution,” prioritizing the conversion of its development pipeline into fully operational power plants. The Raven Storage battery project is expected to lead this rollout, with a goal of being grid-connected by mid-2026.