Canada-based Wind Works Power has acquired a 75% interest in the 150MW Thunder Spirit wind energy project located in the US state of North Dakota.
Construction of the wind farm, which is expected to cost $300m, is planned to begin next year.
The terms of the interest acquisition include payment of a $260,000 interconnection deposit to the Midwest Independent System Operator (Midwest ISO) as well as development costs to get the project ready for construction.
The project will connect into the Midwest ISO's power market, subject to completion of the facilities study.
Wind Works Power president and CEO Ingo Stuckmann said that the company now seeks a financial partner that is interested in a joint venture on the Thunder Spirit project and looks to secure a power purchase agreement.
Midwest ISO is an independent system operator and the regional transmission organization that provides open-access transmission service and monitors the high-voltage power system throughout the Midwest region of the US and Manitoba, Canada.