WEC Energy Group, based in Wisconsin, has agreed to acquire an 80 percent ownership interest in Thunderhead Wind Energy Center, located in Nebraska, for $338 million.
Courtesy of NREL
Invenergy is developing the project which will be located mostly in Antelope County, with a portion in Wheeler County. Commercial operation is expected to begin by the end of 2020.
The wind farm has a long-term offtake agreement with a Fortune 100 company for 100 percent of the energy produced.
The Thunderhead site will consist of 108 GE wind turbines with a combined capacity of 300 MW.
According to Invenergy, Thunderhead Wind Energy is likely to result in the hiring of up to 15 full-time employees as well as 400 part-time construction positions.
"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," 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 percent bonus depreciation and production tax credits. The transaction is subject to receiving all necessary regulatory approvals.