Ares Management Corporation has announced that funds managed by Ares’ Infrastructure and Power group have acquired the 302 MW Lincoln Land Wind project, located in Morgan County, Illinois from Apex Clean Energy. This project builds upon the successful partnership history of these two companies and also demonstrates strong momentum in the industry, heading into 2021 through the wind project.
Apex, a company that develops, constructs and operates utility-scale wind facility in America, has led the development of Lincoln Land Wind. Similarly, Ares, an alternative investment manager, has finalized pre-construction milestones such as securing turbines, financing, and other contracts in the project. Long term power purchase agreements have been made with Facebook and McDonald’s, who will purchase approximately 175 MW and 126 MW, respectively, of clean power from Lincoln Land Wind. All 4 stakeholders- Apex, Ares, McDonald’s and Facebook, have previously partnered on Aviator Wind, which began operating in 2020.
Apex has reported that repeat partnerships are a result of mission alignment, and the new project will be important to drive the energy transition while contributing to long-lasting benefits to the climate and community. Lincoln Land will comprise 107 GE 2.82-127 turbines and is expected to begin operations later this year. Approximately $65 million in local tax revenue is expected to be generated, $90 million in payments to landowners, and nearly 400 full-time local jobs.