Apex Clean Energy to Pursue 1 GW of Solar Potential on Weyerhaeuser Land
Utility-Scale Projects Seek Offtake Partners Amid Surging Demand for Clean Power
Charlottesville, VA – December 9, 2021 – Apex Clean Energy today announced the execution of an agreement with Weyerhaeuser (NYSE: WY) for the development of 1,000 megawatts of utility-scale solar and solar-plus-storage projects on Weyerhaeuser property in the southeastern United States.
To date, Apex has commercialized more than $10 billion of utility-scale clean energy projects and transacted with utilities, co-ops, and corporations. Over the past decade, Apex has led the market in sales of clean energy to the C&I market. This collaboration between two industry leaders will accelerate the shift to clean power at a pivotal moment in the energy transition.
“This significant portfolio of clean energy projects will be developed leveraging Weyerhaeuser’s broad and geographically diverse landholdings and Apex’s track record of bringing commercially viable clean energy projects to market,” said Ellen Balfrey, Apex’s senior vice president of finance. “This unique collaboration will create opportunities for all types of energy purchasers who are seeking to decarbonize their operations in the coming years.”
“This agreement with Apex is a great step in advancing Weyerhaeuser’s strategic growth in renewable energy development, and it supports our broader commitment to sustainability and providing natural climate solutions across our land base,” said Russell Hagen, senior vice president and chief development officer for Weyerhaeuser.
Weyerhaeuser owns approximately 11 million acres in the United States. The agreement, which builds on a strong working relationship between Apex and Weyerhaeuser, will enable close coordination and collaboration between the companies to advance potential projects. Apex will lead on development of the portfolio, which includes projects that could reach commercial operations as early as 2023, creating a near-term opportunity for power purchasers to meet their decarbonization goals at scale.
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About Apex Clean Energy
Apex Clean Energy was founded with a singular focus: to accelerate the shift to clean energy. Through origination, construction, and operation of utility-scale wind, solar, and storage facilities, distributed energy resources, and green fuel technologies, Apex is expanding the renewable frontier across North America. Our mission-driven team of more than 300 professionals uses a data-focused approach and an unrivaled portfolio of projects to create solutions for the world’s most innovative and forward-thinking customers. For more information about how Apex is building the energy company of the future, visit apexcleanenergy.com or follow us on Facebook, Twitter, and LinkedIn.
About Weyerhaeuser
Weyerhaeuser Company, one of the world’s largest private owners of timberlands, began operations in 1900. We own or control approximately 11 million acres of timberlands in the U.S. and manage additional timberlands under long-term licenses in Canada. We manage these timberlands on a sustainable basis in compliance with internationally recognized forestry standards. We are also one of the largest manufacturers of wood products in America. Our company is a real estate investment trust. In 2020, we generated $7.5 billion in net sales and employed approximately 9,400 people who serve customers worldwide. Our common stock trades on the New York Stock Exchange under the symbol WY. Learn more at www.weyerhaeuser.com.