WEC Energy to acquire 80% interest in Thunderhead Wind Energy Center for $338M
WEC Energy Group announced that the company has agreed to acquire an 80% ownership interest in Thunderhead Wind Energy Center. The project is being developed in Antelope and Wheeler counties, Nebraska by Invenergy. 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% of the energy produced. The Thunderhead site will consist of 108 wind turbines with a combined capacity of 300 megawatts. WEC Energy Group's investment will total $338M for the 80% ownership interest. Under the tax rules, the WEC Energy Group investment is expected to be eligible for 100% bonus depreciation and production tax credits. The transaction is subject to receiving all necessary regulatory approvals.