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WEC Energy Group to acquire majority interest in Jayhawk Wind Farm

02 Mar 2021 (Last Updated March 2nd, 2021 13:39)

US-based WEC Energy Group has agreed to acquire a 90% stake in the Jayhawk Wind Farm, Kansas, US, for $302m.

WEC Energy Group to acquire majority interest in Jayhawk Wind Farm
Facebook has signed a purchase deal for the power generated by the wind farm. Credit: Ed White from Pixabay.

US-based WEC Energy Group has agreed to acquire a 90% stake in the Jayhawk Wind Farm, Kansas, US, for $302m. Invenergy will operate the wind farm in Bourbon and Crawford counties after acquiring the remaining 10% interest.

Apex Clean Energy has started development of the wind farm, aiming to bring it online by the end of this year.

WEC Energy Group executive chairman Gale Klappa said: “Our commitment to the Jayhawk project is the next step forward in our comprehensive plan to build a bright, sustainable future, serve strong vibrant customers and continue to grow earnings from our portfolio of renewable energy assets.”

The Jayhawk site will use 70 GE wind turbines and have a combined generation capacity of more than 190MW. Facebook has signed a long-term contract to purchase all power generated.

WEC Energy’s investment forms part of the company’s $16bn efficiency, sustainability and growth plan.

Completion of the transaction is subject to necessary regulatory approvals.

In another development, Atlantica Sustainable Infrastructure reached an agreement to acquire Coso Geothermal Power Holdings, a 135MW geothermal power plant, from a consortium of investors.

The consortium includes Bardin Hill Investment Partners, Avenue Capital, Corre Partners Management and Voya Financial.

Subject to customary conditions and regulatory approvals, the $170m deal will be closed in the first half of this year.

Meanwhile, SDCL Energy Efficiency Income Trust has acquired a 50% interest in Onyx Renewable Partners. The company developed a portfolio of commercial and industrial solar and energy storage projects in the US, now owned by SDCL.