Avangrid Renewables completes sale of 80% stake in 97 MW wind project in US

Avangrid Renewables, LLC, a subsidiary of AVANGRID, Inc., has announced the sale of the ownership interest in the Coyote Ridge Wind Farm, now under construction in Brookings County, South Dakota, to WEC Energy Group of Milwaukee. Under the terms of the transaction, which closed in December, 2018, WEC Energy Group acquired an 80 percent ownership interest in the project and substantially all of the tax benefits for US$145 million.

Avangrid Renewables is building the wind farm, and will provide operations and maintenance services when it reaches commercial operation, which is expected before the end of 2019. The wind farm will feature 39 GE wind turbines for a total capacity of 97 megawatts, and has a long-term offtake agreement with Google Energy LLC for 100 percent of the energy produced.