Great Bay Renewables Announces New Construction Project Investment with Apex Clean Energy
Portsmouth, NH (January 6, 2025): Great Bay Renewables (“Great Bay”), a leading provider of royalty financing for energy infrastructure, is pleased to announce that at end of last year it closed a $42.5 million royalty investment with Apex Clean Energy (“Apex”), related to Apex’s under-construction 202 MW Lotus Wind Project (“Lotus Wind”) in Macoupin and Morgan County, Illinois. Lotus Wind is anticipated to achieve commercial operations in Q2 of 2026.
The investment highlights Great Bay’s commitment to accelerating the deployment of critical power infrastructure. It also marks another significant milestone in the firm’s strategy to collaborate with leading renewable IPPs and advance the growth of sustainable energy projects through innovative financing solutions. Notably, this will be Great Bay’s second recent transaction with Apex, following its investment into Apex’s Angelo Solar facility in February 2024.
Commenting on this latest investment with Apex, Frank Getman, CEO of Great Bay, said, “We are excited to continue to support the outstanding team at Apex Clean Energy by providing construction capital for a top-tier, Midwest renewable energy project. Utility-scale projects like Lotus Wind are essential to meet the surging electricity demand from AI, data centers, and industrial growth. Great Bay’s flexible and innovative financing solutions help provide the needed capital to accelerate deployment and deliver the infrastructure our grid urgently needs.”
About Great Bay Renewables
Great Bay Renewables, based in Portsmouth, New Hampshire, provides creative capital solutions to the renewable energy sector. Specializing in royalty financing, Great Bay provides capital for renewable energy projects at all stages of their life cycle, including addressing critical financial hurdles such as interconnection security deposits and construction financing. To date, the company has invested more than $850 million in the sector, creating royalty agreements on over 37 renewable energy projects totaling approximately 8.8 GW. Great Bay’s management team has extensive experience in renewable energy development, financing, and operations across a range of technologies throughout the United States. Great Bay is backed by Altius Renewable Royalties Corp. and certain funds managed by affiliates of Apollo (NYSE: APO). For additional information regarding Great Bay, please contact Zach Farrar at zfarrar@greatbayrenewables.com