A Milestone Worth Marking: 15 Years of Accelerating the Shift

Fifteen years ago, from my desk at a clean energy start-up in San Francisco, I saw uncertain times ahead for renewable energy. On the other side of the country—amid the instability following the 2008 financial crisis—Apex had just been founded with a bold vision for a renewable energy future. Installed clean energy capacity totaled about 53 GW and was nearly all wind. Solar was starting to become more viable, and battery storage was a wonderful thought, but far from cost-effective. Development portfolios were readily available as many paused, downshifted, or exited the business. Apex saw opportunity and seized it.

In a few short years, much has changed. As Apex commemorated its fifteenth anniversary earlier this year, we celebrated approximately 9 GW commercialized by our company alone and a grid that boasts 283.5 GW of renewables, a fivefold increase in just a decade and a half. Apex’s founding vision and singular purpose positioned the company to participate in this buildout and become a leader in clean energy.

Alongside a rapidly evolving industry, Apex has gone through its own iterations. Notably, with the majority acquisition by Ares, Apex went all in on the transition to an owner-
operator. Today, we are delivering on that promise with clear evidence of progress. In 2024, with more projects than ever before under construction and nearly two gigawatts reaching financial close or commercialization, we are advancing significant megawatts in nine states across the country and are poised for some of the strongest years in the company’s history.

This level of execution—unprecedented at Apex—is the result of strategic planning, thoughtful investment, industry expertise, and true diligence over many years. As we move forward, we recognize that while we have accomplished much, there is more to do, and we are confident about the work ahead.

Despite pressing barriers to clean energy, there is progress across the broader industry: another strong quarter brought year-to-date installations up to 19 GW, more than double the five-year average for installations in the first half of the year. And solutions to the sector’s challenges are on the horizon, with bipartisan support rallying to modernize America’s power grid and reform lengthy and burdensome energy permitting processes.

Against this backdrop, Apex’s focus remains on several key priorities: strong, repeated performance and continuous improvement intended to enhance efficiency at every turn and support our best-in-class team—the people who advance Apex’s mission each day.

This team, in turn, must be supported by strong leadership that drives our vision forward. In line with this, we have taken a significant step by appointing Kenny Chernauskas as Apex’s new chief financial officer. With over 11 years at Apex and a track record of raising nearly $3 billion in capital, Kenny’s deep understanding of the business will position Apex to better integrate our financial strategy with the execution of our work and the trajectory of the company in the coming years.

These overarching priorities—performing, improving, and leading—along with Apex’s commitment to our core values of safety, integrity, professionalism, entrepreneurship, and sustainability, form the foundation of our business and position us for success amid an energy landscape that is going through yet another rapid evolution.

Of course, this is not work that can be done alone. The accomplishments of our first 15 years—and those in the future—rely heavily on collaboration. Our partners, spanning local communities, industry suppliers, offtakers, and policymakers, reflect our values and our mission. Together, we can accelerate the shift to clean energy. Together, the impact of our work extends beyond megawatts delivered; it is about transforming communities, reshaping our environment, and achieving American energy independence.