Funds managed by Ares Management enters deal to acquire majority stakes in Apex Clean Energy

The funds and other accounts managed by Infrastructure and Power of Ares Management Corporation (Ares) have entered into an agreement to acquire a majority stake in Apex Clean Energy (Apex). 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).

Apex has commercialized more than US$9 billion of utility-scale projects and has a leading and diversified clean energy portfolio with more than 30 GW in development. Apex has transacted with utilities, the commercial and industrial (C&I) market, and global financial institutions. Apex has been a leader in clean energy sales to the C&I market over the past decade.

Funds managed by Ares’ Infrastructure and Power strategy have transacted with Apex on numerous power projects, including the 525 MW Aviator Wind—the largest single-phase, single-site wind farm in the United States—the 302 MW Lincoln Land Wind, and the 121 MW Ford Ridge Wind.