Commercial, Wind - February 3, 2021
Facebook, McDonald's power-supplying wind farm acquired by Ares Management
Ares Management Corporation announced Feb. 2 that it has acquired a 302 MW wind project in Illinois that will provide clean energy to McDonald’s and Facebook.
The Lincoln Land Wind project was developed by Apex Clean Energy, which finalized pre-construction milestones before passing it off to Ares’ Infrastructure and Power strategy and will oversee construction and asset management. Facebook and McDonald’s have already completed PPAs for 175 MW and 126 MW, respectively, of energy from the project.
“We are excited to continue our long-standing and successful relationship with Apex, as well as Facebook and McDonald’s, and by our significant investment momentum in the North American renewables market,” Keith Derman, Co-Head of Ares Infrastructure and Power, said in a statement. “Lincoln Land Wind is an example of our value-add investment strategy and our ability to build a portfolio of well-structured, high-quality climate infrastructure assets for our investors.”
The Lincoln Land project will include 107 GE 2.82-127 turbines and is expected to begin operations in late 2021.
Apex, Ares, McDonald’s, and Facebook previously partnered on another wind project, Aviator Wind, which began operation in 2020.