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Transactions - AUGUST 7, 2020

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Ares sells 525MW Aviator Wind Project in Texas

by Released

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.

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