Tuesday, September 3, 2019

Ares Management Backs 200MW Wind Project For Facebook

Los Angeles-based private equity investor Ares Management said this morning that its Infrastructure and power strategy and Apex Clean Energy funds are backing a 200MW renewable wind power project in Texas, which will go to power operations for Facebook. Financial details of the deal were not announced. According to Ares Aviator Wind East, an approximately 200 MW portion of the 525 MW Aviator Wind project located in Coke County, Texas, has signed a renewable power purchase agreement with Facebook, to help it meet its long term renewable energy goals. Facebook says its goal is to support 100 percent of its operations with renewable energy. The new wind site is expected to go into operations sometime in 2020. According to the companies, Facebook's portion of the Aviator Wind project will total 199.76 MW. Ares says it has backed approximately 4 GW of wind power projects so far.