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Northleaf acquires majority stake in Apex Texas renewable portfolio

Apex CleanEnergy sold a majority ownership stake in a 217-MW renewable energyportfolio to global private equity firm Northleaf Capital Partners Ltd. Financial terms of thetransaction were not disclosed.

The portfolio consists of the planned 50.4-MW and 151.2 MWOld Settler windfacilities in Floyd County, Texas, and the 15.4-MWac Phantom Solar facility inKilleen, Texas, according to a July 14 news release.

Apex and Northleaf have also secured debt financing and taxequity commitments for the projects in separate transactions. CohnReznickCapital Markets served as financial adviser to Apex.

The company has enlisted the help of as balance-of-plantcontractor for the wind projects, and PhoenixSolar as lead contractor for the solar project. Apex said theDefense Logistics Agency, on behalf of the U.S. Army, will the output of the Cotton Plainsand Phantom Solar projects upon completion.