• Skip to main content
  • Skip to primary sidebar
  • Skip to footer
  • Corporate News
  • Generation
  • Oil & Gas
  • Regulation
  • Renewable
    • Climate
    • Solar
    • Wind
  • Storage
  • Tech
  • T & D
Energy News Desk Logo

Energy News Desk

Energy News and Data

Avangrid Renewables Sells Stake in South Dakota Wind Farm

July 28, 2020 by NA Windpower

Avangrid Renewables LLC, a subsidiary of AVANGRID, has completed a transaction with WEC Energy Group of Milwaukee to sell an ownership interest in the Tatanka Ridge Wind Farm, now under construction in Deuel County, S.D.

Under the terms of the transaction, which was signed earlier this month, WEC Energy Group will acquire an 85% ownership interest and substantially all of the tax benefits in the project for approximately $235 million. Closing the transaction is subject to receipt of certain regulatory approvals and customary closing conditions.

“Partnering with WEC Energy Group on another new wind project enables us to capitalize on our broad development pipeline of renewable projects around the country,” says Alejandro de Hoz, president and CEO of Avangrid Renewables. 

“With a renewables development pipeline approaching 19 GW, we have the flexibility to pursue different avenues to maximize the value of our wind and solar assets,” he adds.

Avangrid Renewables is building the 56-wind turbine, 155 MW project, which is expected to reach commercial operation by early 2021. The wind farm encompasses approximately 18,000 acres of primarily corn and soybean farms and cattle ranches, leased from more than 100 landowners. Between land lease payments and taxes, the wind farm would provide approximately $1.7 million of economic benefits annually.

In December 2018, Avangrid Renewables sold an 80% ownership interest in the 97 MW Coyote Ridge Wind Farm in Brookings County, S.D., to WEC Energy Group. That project reached commercial operation this year.

Photo: AVANGRID’s landing page

Original source: North American Wind Power

Filed Under: Renewable, Wind

Primary Sidebar

Join The Daily Charge

This week's top 5 stories in your inbox. No spam ever.

Trending

  • Nordex Changes Up Management Positions
  • Emerson Acquires Open Systems Int. Inc.
  • Homeowners Show Robust Interest in Residential Solar Despite Pandemic
  • Orsted Acquires the Haystack Wind Project
  • Central Hudson Partners with Sensus to Expand DER Capabilities
  • Leeward Completes Construction, Financing on Mountain Breeze Wind Farm
  • ArcVera’s Wind Energy Team Adds New Member
  • Massachusetts set to pass landmark clean energy law to reach net-zero by 2050
  • TGE, CIP Achieve Commercial Operation of Bearkat II
  • NREL Validates Resin to Improve Recyclability of Turbine Blades

Footer

Trending

  • Nordex Changes Up Management Positions
  • Emerson Acquires Open Systems Int. Inc.
  • Homeowners Show Robust Interest in Residential Solar Despite Pandemic
  • Orsted Acquires the Haystack Wind Project
  • Central Hudson Partners with Sensus to Expand DER Capabilities

Recent

  • Quick Tips To A Sustainable Future
  • Stem Provides Smart Energy Storage Solutions to Today’s Power
  • EIA's AEO2021 shows U.S. energy-related CO2 emissions rising after the mid-2030s
  • Homeowners associations still a barrier for some would-be solar customers
  • Commentary: With open standards, U.S. can build EV charging infrastructure faster

Search

Contact Us

Write For Us

  • Email
  • Facebook
  • Twitter

Copyright © 2023 · EnergyNewsDesk.com