Apollo bets on wind farms in deal with WEC Energy Group

• Wind Holding is a wholly owned subsidiary of WEC Energy Group
• The two windfarms generate 340 megawatts that is contracted under long-term PPAs
• MUFG served as financial advisor to WEC Energy Group on the transaction

New York-based Apollo Global Management has purchased approximately $200 million of senior secured notes of WEC Infrastructure Wind Holding, the owner of Tatanka Ridge and Jayhawk wind farms that provide 340 megawatts of renewable power generation.

Wind Holding is a subsidiary of WEC Energy Group, a Milwaukee-based energy company serving 4.6 million customers in Wisconsin, Illinois, Michigan and Minnesota.

Wind Holding is part of WEC Energy Group’s nonutility energy infrastructure business, which has agreements in place for majority ownership interests in wind and solar generating facilities that can produce more than 1,700 megawatts of energy. The 340 megawatts generated from Tatanka Ridge and Jayhawk wind farms are fully contracted under long-term PPAs with high-quality offtakers.

Apollo described the transaction as one that underscores its commitment to driving a more sustainable future.

“We are pleased to provide an investment grade private capital solution to a WEC Energy affiliate on behalf of our clients,” said Shawn Robinson, partner and co-head of Private Fixed Income at Apollo.

“This high-quality investment supports significant renewable wind energy generation, and we expect to continue growing our relationship with WEC’s clean energy affiliates,” added Robinson.

For WEC Energy Group, these projects supports the company’s aggressive environmental goals and commitment to building a bright, sustainable future that is affordable, reliable and clean.