PSO’s wind power agreement copied in Wisconsin

Public Service Company of Oklahoma isn’t the only big utility to reach agreement and become part-owner of some Invenergy wind farms.

WEC Energy Group based in Milwaukee, Wisconsin has announced it will increase its ownership interest from 80% to 90% in three Midwest wind farms run by Invenergy.

But the total investment is only $118 million for an additional 75 megawatts of capacity while PSO’s investment is $2 billion. WEC Energy will acquire more ownership of the Blooming Grove Wind Farm, Thunderhead Wind Energy Center and the Upstream Wind Energy Center.

“This agreement marks another step forward for the energy infrastructure segment of our five-year capital plan,” said Gale Klappa, executive chairman of WEC Energy Group. “The plan calls for deploying $1.8 billion in high-quality projects that will serve strong, vibrant companies for years to come.”

Invenergy, a leading developer and operator of sustainable energy solutions, is currently building the Blooming Grove and Thunderhead projects which are expected to achieve commercial operation by the end of 2020. The Upstream Wind Energy Center, also developed by Invenergy, began service in January 2019. All three wind farms have long-term offtake agreements with affiliates of investment-grade multinational corporations.

Invenergy is doing the same with the three wind farms that are part of the agreement with PSO based in Tulsa. All three should be operational in 2021.

WEC Energy Group is based in Milwaukee and serves 4.5 million customers in Wisconsin, Illinois, Michigan and Minnesota.

 

Source: CISION PR Wire

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