WEC Energy Group has agreed to acquire an 80% ownership interest in the Thunderhead Wind Energy Center in Nebraska.
The project is being developed by Invenergy in Antelope and Wheeler counties. Commercial operation is expected to begin by the end of 2020.
The wind farm has a long-term off-take agreement with a Fortune 100 company for 100% of the energy produced. The site will consist of 108 GE wind turbines with a combined capacity of 300 MW.
WEC Energy Group’s investment will total $338 million for the 80% ownership interest.
“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,” says Gale Klappa, executive chairman of WEC Energy Group.
Notably, the investment is expected to be eligible for 100% bonus depreciation and production tax credits. The transaction is subject to necessary regulatory approvals, notes WEC Energy Group.
WEC Energy Group, based in Milwaukee, serves 4.5 million customers in Wisconsin, Illinois, Michigan and Minnesota.