Apex Clean Energy - Kay Wind Project
Construction financing solution for onshore wind power in Oklahoma
Apex Clean Energy sought financing support for the construction of Kay Wind, an onshore wind facility located in Kay County, Oklahoma, approximately two hours north of Oklahoma City. The 299-MW project is expected to create enough clean energy to power approximately 100,000 average U.S. homes annually. Installation of the wind turbines is scheduled to begin in the summer of 2015, with the start of operations expected by year-end.
Siemens Financial Services (SFS) committed to fund up to $80 million of the project’s construction financing. The project will feature 130 Siemens SWT 2.3-108 wind turbines, each with a power rating of 2.3 MW and 53-meter blades.
In addition to supplying turbines, Siemens signed a long-term service and maintenance agreement that included remote monitoring and diagnostic services designed to support turbine performance and project operation. Siemens has demonstrated its ability to be a one-stop-shop by providing equipment, service and financing solutions to Apex Clean Energy.