Invenergy sells 80% of 300MW wind project in USA
WEC Energy Group has agreed to acquire an 80% ownership interest in 300 MW Thunderhead Wind Energy Center. The project is being developed by Invenergy in Antelope and Wheeler counties, Nebraska, USA.
The Thunderhead site will consist of 108 GE wind turbines with a combined capacity of 300 megawatts. WEC Energy Group's investment will total US$338 million for the 80% ownership interest.
The wind farm has a long-term PPA agreement with a Fortune 100 company for 100% of the energy produced.
Commercial operation of the project is expected to begin by the end of 2020.
Under the tax rules, the WEC Energy Group investment is expected to be eligible for 100 percent bonus depreciation and production tax credits. The transaction is subject to receiving all necessary regulatory approvals.
Executive chairman of WEC Energy Group said - "This investment fits exceptionally well with our strategy of deploying capital in renewable energy assets that will serve strong, vibrant companies for years to come."
WEC Energy Group, based in Milwaukee, is one of the USA premier energy companies, serving 4.5 million customers in Wisconsin, Illinois, Michigan and Minnesota.
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