Invenergy has announced the start of building work following the close of construction financing for the 250MW Sapphire Sky Wind Energy Center located in McLean County, Illinois.
Sapphire Sky Wind broke ground at the end of 2021 and is scheduled to begin commercial operations in December 2022.
KeyBanc Capital Markets, CaixaBank and National Bank of Canada acted as lead arrangers for the financing, which includes a senior secured construction loan and letter of credit facility.
Once operational, Milwaukee-based WEC Energy Group will acquire a 90% ownership interest in Sapphire Sky Wind, and Invenergy will retain a minority ownership position.
Invenergy Services, a subsidiary of Invenergy, will oversee operations and maintenance while providing balance of plant and administrative services under a long-term agreement, adding to the more than 13GW global sustainable energy project portfolio it manages.