Ares Management Corp. has announced that funds managed by its Infrastructure and Power strategy have completed the sale of the 525-megawatt Aviator Wind project, which was owned, constructed and managed by Ares and developed by Apex Clean Energy.
In two recent transactions, Ares sold a majority stake in the project to CMS Energy and a minority interest to Kansai Electric Power Co. Ares retains a small minority interest in the project. Terms of the transaction were not disclosed.
Located in Coke County, Texas, Aviator Wind is the largest single-phase, single-site wind project in the United States. Ares secured turbine equipment as well as O&M services from GE Renewable Energy and extended its relationship with BHE Renewables with a tax equity commitment for the project. In late 2019, Ares and Apex structured and secured renewable power-purchase agreements with Facebook and McDonald's to have Aviator Wind support each corporation's renewable energy goals.