Ares to Acquire Majority Stake in Apex Clean Energy

Apex Clean Energy and Ares Management Corporation announced that funds and other accounts managed by Ares’ Infrastructure and Power strategy have entered into an agreement to acquire a majority stake in Apex.

The transaction will provide Apex with additional equity growth capital as it seeks to transition to a pure-play renewable energy independent power producer (IPP).

To date, Apex has commercialized more than $9 billion of utility-scale projects and has a leading and diversified clean energy portfolio with more than 30 GW in development.

Apex has transacted with utilities, the commercial and industrial (C&I) market, and global financial institutions. Apex has been a leader in clean energy sales to the C&I market over the past decade.

“Apex and Ares are aligned on a common mission to accelerate the shift to clean energy,” said Mark Goodwin, President and CEO of Apex Clean Energy. “The energy transition has never been more urgent, and the opportunity presented by the industry’s momentum is both immediate and massive."

“There is a deep, long-standing relationship between Ares and Apex, which gives us great confidence and excitement about this opportunity,” said Keith Derman, Partner and Co-Head of Ares’ Infrastructure and Power strategy.