Apex Wind Energy Holdings, LLC ("Apex"), a leading wind power developer based in Charlottesville, Virginia, is the project developer. The Project has executed long-term power purchase agreements with investment grade offtakers for 250.45 MW and is currently negotiating a similar PPA for the remaining 48 MW. Construction is expected to begin by April 2012 with commercial operations expected in November 2012. The Project will deploy REpower 2.05 MW MM92 and Mitsubishi 2.4 MW MWT102 wind turbines, both proven technologies that take advantage of the project’s strong wind regime. The Company would be the Project’s operator and asset manager.
Total project costs are expected to be approximately $460 million. Subject to final due diligence, Board approval and other conditions, the Company will have the right to invest 100% of the project equity or approximately $170 million.