WEC acquires 80% of 250 MW onshore wind project in USA
WEC Energy Group has agreed to acquire an 80% ownership interest in 250 MW Blooming Grove Wind Farm. The project is being developed in McLean County, Illinois by Invenergy. Commercial operation of the wind farm is expected to begin by the end of 2020.
The wind farm has long-term offtake agreements for all the energy produced with affiliates of two investment-grade multinational companies.
The Blooming Grove site will consist of 94 GE wind turbines with a combined capacity of 250 megawatts. WEC Energy Group's investment will total US$345 million for the 80% ownership interest.
"This is the latest in a series of investments that fit exceptionally well with our strategy of deploying capital in renewable energy assets that will serve strong, vibrant companies for years to come," said Gale Klappa, executive chairman of WEC Energy Group.
Under the tax rules, the WEC Energy Group investment is expected to be eligible for 100% bonus depreciation and production tax credits. The transaction is subject to receiving all necessary regulatory approvals.
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January 28, 2020
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The FBI accused DC Solar, the solar generator company founded by Jeff and Paulette Carpoff (husband and wife), of basically set up a Ponzi scheme, paying back earlier investors with the funds received from new investors. According to Reuters, Jeff Carpoff pleaded guilty to money laundering and conspiracy to commit wire fraud, while Paulette Carpoff pleaded guilty to money laundering and conspiracy to commit an offense against the United States.
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January 24, 2020
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Capital Dynamics acquires 300MW solar project in USA
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January 10, 2020
Siemens to supply for the largest offshore wind project in USA
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