An Apex Clean Energy wind farm under construction between Piedmont and Kingfisher will be sold to a new company, Apex said Thursday.
First Reserve Corp., a private equity and infrastructure investment firm based in Connecticut, will acquire the 298-megawatt Kingfisher Wind project in Canadian and Kingfisher counties. Terms of the transaction weren’t disclosed.
“This transaction highlights Apex’s broad capabilities to deliver turn-key clean energy solutions for our financial partners,” said Apex President Mark Goodwin. “Apex will continue its involvement in managing all aspects of Kingfisher Wind, from development and construction through long-term asset management.”
Apex spokeswoman Dahvi Wilson said the wind farm is expected to be in operation later this year.
“Technically, construction has begun, but there’s not a lot visible,” Wilson said. “We expect roads and substations will be under construction by the spring.”
The $425 million project, announced in 2012, has drawn criticism from some nearby landowners not happy about having a wind farm near their property. City officials in Piedmont deemed the project a “public nuisance” until a settlement was reached taking some planned turbine locations outside city limits.
A group of landowners and the Oklahoma Wind Action Association sued Apex and several associated companies in federal court last year, claiming the Kingfisher wind farm would threaten their health and safety. Apex wants a judge to dismiss the case, saying any claims of harm were speculative.
Apex said the Kingfisher project will bring an estimated $1.5 million per year in new tax revenues to Canadian and Kingfisher counties. Its annual lease payments to local landowners are expected to total $2 million per year. Local school districts, including Okarche and Cashion schools, also will benefit, the company said.
“The completion of Kingfisher Wind should bring new opportunities for our school to further improve our class offerings and quality of education,” Okarche Superintendent Rob Friesen said in a news release.
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