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Kirkland Advises Apex Clean Energy in Partial Sale of Portfolio of Operating Wind and Solar Assets

Kirkland & Ellis represented Apex Clean Energy in its agreement with ERG, a leading European renewable energy producer, for the partial sale of a portfolio of operating clean energy assets in the United States. Apex will continue to own a 25% stake in the portfolio and manage the operations of the facilities, with ERG acquiring a 75% stake. The portfolio—the first in a series that will support Apex’s capital recycling program—includes 224.4 MW Great Pathfinder Wind in Iowa and 92.4 MW Mulligan Solar in Illinois. The projects began commercial operations in February 2023 and July 2022 respectively. The two assets benefit from tax equity investments and long-term power purchase agreements with market-leading counterparts.

The Kirkland team was led by corporate partners Robert Goodin and Alec Manzer and debt finance partners Rohit Chaudhry and Leila Ravi, along with corporate associates Austin Johnson and Mohammad Alkadhem; tax partners Michael Masri and William Dong and associate Julia Ye; debt finance partner William Nicholson; and energy regulatory partner Drew Stuyvenberg.

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