Altius Renewable Announces Its First Energy Royalty from Apex Clean Energy

Source: 3/1/2021, Location: North America

Altius Renewable Royalties Corp., is pleased to announce the creation of a first royalty to its jointly controlled entity, Great Bay Renewables, LLC (“Great Bay”), under its portfolio-based royalty financing with Apex Clean Energy (“Apex”). Great Bay is entitled to receive a 2.5% royalty on the 190 MW Jayhawk Wind project in Crawford and Bourbon Counties, Kansas.

The announcement made by Apex today is as follows:
PPA for full capacity represents Facebook’s fourth power purchase from Apex
Charlottesville, VA – March 1, 2021 – Apex Clean Energy today announced that WEC Energy Group (NYSE: WEC) and Invenergy purchased the Jayhawk Wind project, including a renewable power purchase agreement with Facebook. The more than 190 MW project, located in Crawford and Bourbon Counties, Kansas, will help support the tech company’s operations in the region.

“Establishing and growing strong relationships with the nation’s pre-eminent clean energy investors and power purchasers is fundamental to Apex’s core mission and to our ability to bring best-in-class renewable energy assets like Jayhawk Wind to life,” said Mark Goodwin, Apex Clean Energy president and CEO. “Because of these agreements with Facebook—a valued Apex customer—and new partners WEC Energy Group and Invenergy, Jayhawk Wind will advance the new energy economy in Kansas and generate significant long-term economic benefits for the local community.”

The deal marks Apex’s fourth renewable transaction with Facebook, following a 61.6 MW PPA with Altavista Solar; a 200 MW PPA with Aviator Wind East, part of the largest single-phase, single-site wind project in the United States; and, most recently, a 175 MW PPA with Lincoln Land Wind in Illinois.

“We are excited to help bring this new wind project—our first in Kansas—to the grid in support of our operations in the region,” said Urvi Parekh, head of renewable energy at Facebook. “At Facebook, we are committed to supporting our global operations with 100% renewable energy and helping accelerate the transition to renewable energy around the world.”

Jayhawk Wind will help Facebook meet its goal to support its operations in the region with 100% renewable energy and reach net-zero carbon emissions. The tech company stepped in as the project’s offtaker after a previous power purchase agreement was mutually dissolved.

The purchase of the Jayhawk Wind project is part of WEC Energy Group’s $16 billion ESG Progress Plan—the largest five-year capital plan in the company’s history.

“Our commitment to the Jayhawk project is the next step forward in our comprehensive plan to build a bright, sustainable future, serve strong vibrant customers, and continue to grow earnings from our portfolio of renewable energy assets,” said Gale Klappa, WEC Energy Group executive chairman.

The Jayhawk facility, which breaks ground this week and is expected to be operational later this year, will consist of 70 GE wind turbines totaling an installed capacity of more than 190 MW. The project will provide significant economic benefits for the local and state economies—including the creation of more than 115 construction jobs and 7 long-term operations positions—and will generate over $20 million in landowner payments and $27.2 million in tax revenue.

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