Certain Apollo-managed funds have purchased approximately $200 million of senior secured notes of WEC Infrastructure Wind Holding II LLC in a private placement. Wind Holding, a wholly owned subsidiary of WEC Energy Group, owns the Tatanka Ridge and Jayhawk wind farms, which together provide 340 MW of renewable power generation and are fully contracted under long-term PPAs with high-quality offtakers.
“We are pleased to provide an investment-grade private capital solution to a WEC Energy affiliate on behalf of our clients,” says Shawn Robinson, partner and co-head of private fixed income at Apollo. “This high-quality investment supports significant renewable wind energy generation, and we expect to continue growing our relationship with WEC’s clean energy affiliates.”
Wind Holding is part of WEC Energy Group’s nonutility energy infrastructure business, which has agreements in place for majority ownership interests in wind and solar generating facilities that are capable of producing more than 1,700 MW of energy.
MUFG served as financial advisor to WEC Energy Group on the transaction. “This is MUFG’s second project finance engagement with WEC, and we look forward to continuing our partnership in support of WEC’s effort to build out its portfolio of renewable-energy projects,” states Fred Zelaya, managing director of project finance with MUFG.