Investment firm takes majority stake in Apex Clean Energy
A company called the Ares Management Corporation has acquired a majority stake in the Charlottesville-based Apex Clean Energy, according to a release on Business Wire.
“The transaction will provide Apex with additional equity growth capital as it seeks to transition to a pure-play renewable energy independent power producer (IPP),” reads the release.
Apex has over $9 billion in utility-scale energy projects across the country. Ares has already been an investor on projects such as the construction of the largest single-phase, single-site wind facility in the country.
“Through origination, construction, and operation of utility-scale wind, solar, and storage facilities, distributed energy resources, and green fuel technologies, Apex is expanding the renewable frontier across North America,” reads the description of Apex Clean Energy in the release.
The same management team will remain in place. The company has over 300 employees. Construction continues on their new headquarters in downtown Charlottesville.
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