Ares to acquire 302MW Lincoln Land Wind project in Illinois

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Funds managed by Ares Management has acquired the 302MW Lincoln Land Wind project, located in Morgan County, Illinois, from Apex Clean Energy.

Lincoln Land Wind is Ares’ 66th climate infrastructure investment, which represent a combined capacity of over 7GW of power generation.

The development of the wind project is led by Apex, while Ares finalized preconstruction activities, including securing turbines, financing (tax equity and debt), and other project contracts.

Facebook and McDonald’s have signed long-term power purchase agreements for the Lincoln Land Wind project.

The two companies, Apex’s two largest corporate customers, will purchase approximately 17 MW and 126MW, respectively, of clean power from Lincoln Land Wind.

Apex, Ares, McDonald’s, and Facebook previously partnered on Aviator Wind project, which commenced operations in 2020.

Apex President and CEO Mark Goodwin said: “Repeat partnerships are the result of mission alignment, and Lincoln Land Wind is a perfect example.

“Alongside sustainability leaders Ares Infrastructure and Power, Facebook, and McDonald’s, Apex continues to drive the energy transition through projects that deliver significant and long-lasting benefits to the climate and the local community.”

Comprising 107 GE 2.82-127 turbines, Lincoln Land project is expected to begin operations in late 2021.

Construction and asset management services for the project will be delivered by Apex.

During the construction phase, the project is expected to create 400 full-time local jobs. In addition, the project is estimated to generate approximately $65m in local tax revenue and $90m in payments to landowners.