Invenergy has agreed to sell a 90.1% stake in the 257MW Wake wind project in Texas to Southern Power.
The wholesale energy provider, a subsidiary of Southern Company, has agreed to pay $469m, according to a filing to the US Securities Exchange Commission.
The completion of the acquisition is subject to construction and project milestones and is expected to close later in 2016, said Southern.
All of the output is contracted under 12-year power purchase agreements. Project financing closed in April.
The Wake project, located about 50 miles east of Lubbock, features 150 GE 1.715MW turbines.
General contractor Blattner Energy is overseeing construction, while EPC Services is building the substation.
Commercial operations are due to start in the third quarter.
Image: Invenergy
