WEC Energy To Buy 90% Stake In Sapphire Sky Wind Energy Center For $412 Mln - Quick Facts

(RTTNews) - WEC Energy Group (WEC) announced Tuesday that the company has agreed to acquire a 90% ownership interest in the Sapphire Sky Wind Energy Center for an investment $412 million. The transaction is subject to receiving all necessary regulatory approvals.

The McLean County, Illinois-based project is being developed by Invenergy, a leading global developer and operator of sustainable energy solutions.

The Sapphire Sky site will consist of 64 wind turbines with a combined capacity of 250 megawatts. Commercial operation is expected by the end of 2022.

Sapphire Sky will generate renewable energy that will be sold under a long-term power purchase agreement with a Fortune 100 global, high-tech company.

With this project, the company's Infrastructure segment has planned investments in eight major wind farms totaling more than 1.5 gigawatts of capacity.