(RTTNews) - WEC Energy Group (WEC) agreed Tuesday to acquire an 80% ownership interest in Thunderhead Wind Energy Center.
The wind farm has a long-term offtake agreement with a Fortune 100 company for 100% of the energy produced. Commercial operation is expected to begin by the end of 2020.
The project is being developed in Antelope and Wheeler counties, Nebraska by Invenergy, a leading developer and operator of sustainable energy solutions.
The Thunderhead site will consist of 108 GE wind turbines with a combined capacity of 300 megawatts. WEC Energy Group's investment will total $338 million for the 80% ownership interest.
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.