WEC Energy To Acquire 80% Ownership In Blooming Grove Wind Farm - Quick Facts

(RTTNews) - WEC Energy Group (WEC) announced Monday that it has invested a total of $345 million to acquire an 80 percent ownership interest in Blooming Grove Wind Farm. The project is being developed in McLean County, Illinois by Invenergy, a leading developer and operator of sustainable energy solutions.

The Blooming Grove site will consist of 94 GE wind turbines with a combined capacity of 250 megawatts. Commercial operation at the Blooming Grove Wind Farm is expected to begin by the end of 2020.

The wind farm has long-term offtake agreements for all the energy produced with affiliates of two investment grade multinational companies.

This is the latest in a series of investments by WEC that fit exceptionally well with its strategy of deploying capital in renewable energy assets. The transaction is subject to receiving all necessary regulatory approvals.