WEC Energy Group, the parent company of We Energies, has agreed to buy an 80% ownership stake in a 250-megawatt wind farm in McLean County, Illinois for $345 million.
The Blooming Grove Wind Farm is expected to begin operations by the end of 2020 and has long-term offtake agreements with affiliates of two multinational companies.
“This is the latest in a series of investments that fit exceptionally well with our strategy of deploying capital in renewable energy assets that will serve strong, vibrant companies for years to come,” said Gale Klappa, executive chairman of WEC Energy Group.
Prior to this deal, the company has spent more than $640 million for similar stakes in wind farms in Nebraska, Illinois and South Dakota over the last two years.
Those three projects have a combined capacity of 529 megawatts.
