Renewables company Apex Clean Energy and timberland company Weyerhaeuser agreed to develop 1 GW of utility-scale solar and solar-plus-storage projects on Weyerhaeuser property in the US.
Speaking about this agreement, Senior Vice President of Finance Apex Ellen Balfrey said, "This significant portfolio of clean energy projects will be developed leveraging Weyerhaeuser's broad and geographically diverse landholdings and Apex's track record of bringing commercially viable clean energy projects to market."
Adding to this, Senior Vice President and Chief Development Officer Weyerhaeuser Russell Hagen said, "This agreement with Apex is a great step in advancing Weyerhaeuser's strategic growth in renewable energy development, and it supports our broader commitment to sustainability and providing natural climate solutions across our land base."
Weyerhaeuser owns about 11 million acres of land in the US and this agreement is expected to strengthen collaboration between both the companies to advance potential projects.
Apex will lead the development of the portfolio, which includes projects that can be commercialized by early 2023. Till date, the company has commercialized over $10 billion of utility-scale clean energy projects and transacted with utilities, co-ops, and corporations.