Apex Clean Energy has secured financing for three utility-scale renewable energy projects across Texas, Ohio, and Illinois, representing approximately 670 MW of capacity and $2.79 billion in commitments. The portfolio includes the 100 MW Raven Storage BESS, the 300 MW Coles Wind project and the 269 MW Emerson Creek Wind project. The financings enhance Apex’s multi-market delivery pipeline and support construction, operations, and near-term asset performance as the company enters 2026.
PROJECT SUMMARY
| Field | Value |
|---|---|
| Total financed capacity | ~670 MW |
| Raven Storage | 100 MW BESS, Texas (ERCOT) |
| Developer | Apex Clean Energy |
| Coles Wind | 300 MW onshore wind, Illinois (MISO) |
| Emerson Creek Wind | 269 MW onshore wind, Ohio (PJM) |
| Total commitments | $2.79 billion |
U.S.-based renewable energy developer, Apex Clean Energy has announced financing of three utility-scale renewable energy projects across Texas, Ohio, and Illinois, including the Raven Storage project in Wharton County, Texas.
Raven Storage, a 100MW battery energy storage system (BESS) located in Texas, is part of SA Grid Solutions, a joint venture (JV) between Apex Clean Energy and two companies in the South Korean SK Group conglomerate, SK Gas and SK Eternix. It also represents Apex’s first financing with the US-based bank, Bank of Hope. Raven Storage is designed to provide grid flexibility and capacity support in a market characterized by high renewable penetration and price volatility.
In total, Apex successfully financed approximately 670 MW of capacity and $2.79 billion in financial commitments to support the construction and operation of three assets. These transactions contribute a total of $4.08 billion financed across Apex’s portfolio in 2025.
In addition to including the Raven Storage, the financing includes Coles Wind, Emerson Creek Wind projects. Coles Wind, a 300 MW onshore wind project in Coles County, Illinois, operates within the Midcontinent Independent System Operator (MISO) market. It represents Apex Clean Energy’s largest project-level financing to date. The project secured construction and term financing underwritten by Santander, with J.P. Morgan acting as the sole tax equity partner.
Emerson Creek Wind is a 269 MW onshore wind project spanning Erie and Huron Counties, Ohio, operating within the PJM Interconnection market. The project was financed through a fully underwritten construction and term loan and letter of credit facility from CIBC, Helaba, and Santander, with tax equity provided by Wells Fargo.
In addition to the project financing, the company brought approximately 1.1 GW of new capacity online across six U.S. states, includes the 200 MW Bowman Wind project in North Dakota, which achieved commercial operations in December 2025. Apex Clean Energy commercialized more than 1.5 GW of projects across multiple U.S. regional power markets. The company also completed a $1.05 billion corporate refinancing and established a conservation partnership with Ducks Unlimited.
Entering 2026, Apex said its financed projects, operating assets, and multi-market portfolio supported near-term delivery and operations.
Ken Young, CEO of Apex Clean Energy said the projects required multi-partner coordination and that 2026 priorities include execution, asset delivery, and operational performance.