WEC Energy Group Set to Acquire 90% Ownership of Jayhawk Wind Farm

Milwaukee based, WEC Energy Group has announced that the company has taken a decision to acquire a 90% ownership interest in the Jayhawk Wind Farm - consisting of 70 GE wind turbines with a combined capacity of more than 190 megawatts, to be built in Bourbon and Crawford counties, Kansas, US.

The renewable energy thus generated, will be sold under a long-term contract to Facebook.  WEC Energy Group's investment is expected to total $302 million for the 90% ownership interest and substantially all of the tax benefits.

Gale Klappa, executive chairman, WEC Group, commented: "Our commitment to the Jayhawk project is the next step forward in our comprehensive plan to build a bright, sustainable future, serve strong vibrant customers and continue to grow earnings from our portfolio of renewable energy assets.”

The investment is part of the company's $16 billion ESG Progress Plan — the largest 5-year capital plan in the company's history. It calls for investment in efficiency, sustainability, and growth.

The remaining 10% ownership interest will be acquired by the Invenergy and will be responsible to operate the facility. The commercial operation of the plant is expected to begin by the end of 2021.

The WEC Energy Group will also organize Global Listed Infrastructure Organisation (GLIO) Virtual Conference to have discussions on lessons learned from 2020, an outlook for 2021 and beyond, and a deep dive into the listed utility sector's leading role in driving the energy transition.

The Global Listed Infrastructure Organisation (GLIO) is the representative body for the $2.7 trillion market capitalization listed infrastructure asset class. GLIO raises investor awareness for the asset class through research, education, events, and promotion.