First Citizens Bank’s energy finance business served as sole bookrunner and co-lead arranger on financings totaling more than $150 million for two Apex Clean Energy battery energy storage projects in Texas.
One project, Great Kiskadee Storage, is a 100-megawatt/200-megawatt-hour battery energy storage system owned by SA Grid Solutions, a joint venture of Apex, SK Gas and SK Eternix, under construction in Hidalgo County, Texas. The other, Angelo Storage, is a 100-megawatt/200-megawatt-hour battery energy storage system, also under construction, in Tom Green County, Texas.
Both are expected to reach commercial operation by third quarter 2024. Bank United also served as co-lead arranger on the financings.
Founded in 2009 and headquartered in Charlottesville, Va., Apex Clean Energy focuses on the origination, construction and operation of utility-scale wind, solar and battery storage projects, distributed energy resources, and green fuel technologies.
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