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.
Invenergy executive vice president for finance and capital markets Meghan Schultz said: “We’re proud to be expanding Invenergy’s notable footprint in our home state of Illinois.
“The continued collaboration of our valued lender partners, who share our vision of a more sustainable world, make our ambitious but essential projects possible.
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.
Invenergy senior vice president for renewable operations Kevin Schroeder said: “Invenergy Services will be working onsite every day providing best-in-class services to ensure Sapphire Sky Wind operates safely and efficiently.
“The project will add to the 1344MW of energy facilities currently managed by Invenergy Services in Illinois.”
Sapphire Sky Wind will generate enough electricity to power nearly 80,000 homes each year, while supporting approximately 300 jobs during the 12-month construction period and 9 full-time operations and maintenance jobs once completed.
The project will invest more than $170m (£150.7m) in the local community through property taxes, landowner payments, and wages and benefits.
Invenergy’s executive vice president of construction Art Fletcher said: “With construction underway, we’re thrilled to bring new jobs and economic growth to McLean County.
“We look forward to delivering more reliable, affordable clean energy and investment in our project host communities across Illinois for years to come.”