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Announced

WEC Energy Group to acquire 80% ownership in Thunderhead Wind Energy Center.

Financials

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Transaction Value£280m
Consideration Type-
Capital Owned-
Capital Bid For80%
EV/Sales-
EV/EBITDA-
Share Price Premium-
One Off Charge-

Tags

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wind energy

Majority

Renewable Energy Equipment

United States

Acquisition

Private

Pending

Single Bidder

Synopsis

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WEC Energy Group has acquired an 80% ownership interest in Thunderhead Wind Energy Center. The Thunderhead site will consist of 108 GE wind turbines with a combined capacity of 300 megawatts. WEC Energy Group's investment will total $338m for the 80% ownership interest. The project is being developed in Antelope and Wheeler counties, Nebraska by Invenergy - a leading developer and operator of sustainable energy solutions. Commercial operation is expected to begin by the end of 2020. "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," Gale Klappa, WEC Energy Group executive chairman.

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