Meanwhile, SWEPCO will own 1,400 MW of the project and expects to save its customers more than $5 billion.
Construction of the Wind Catcher complex was launched in 2016 and is expected to be completed in the middle of 2020. Oklahoma ranks third in the nation in total installed wind capacity.
"This is an exciting opportunity to provide a significant amount of clean, renewable energy and long-term cost savings for SWEPCO customers", said Venita McCellon-Allen, SWEPCO president and chief operating officer. Spain is the world's second-largest producer of wind power after Germany.
"Wind Catcher shows American leadership in bringing low-priced clean energy to market at a giga scale", said Michael Polsky, Invenergy's founder and CEO.
Invenergy and PSO said the project won't qualify for the state's zero-emissions tax credit. Earlier this month, Pacificorp, a Pacific Northwest utility owned by Warren Buffett's Berkshire Hathaway Inc., said it would spend $3.5 billion on wind and transmission projects.
The investment is the latest sign that USA wind power projects are beginning to attract serious money, even in the heart of oil and gas country, as they become more competitive with other sources of electricity. All machine heads and hubs will be manufactured in the US, and additional components will be manufactured in Louisiana, Arkansas, Texas and Oklahoma.
The construction phase of the project is expected to create approximately 4,000 direct and 4,400 indirect jobs annually. It will have about 80 permanent jobs once it's operational. It also will contribute approximately $300 million in property taxes over the life of the project.
Invenergy, North America's largest independent, privately-held renewable energy company, along with GE Renewable Energy, announced a 2,000-megawatt wind farm that will be the largest in the US and second-largest in the world, once operational. Invenergy will operate the wind farm for the first five years. "With a large-scale project at this site, we are tapping into one of the best wind resources in the country".
PSO will make a filing at the Oklahoma Corporation Commission seeking Commission approval to move forward with the project.
The utility plans to serve more than 1 million customers in Alabama, Texas, Arkansas and Oklahoma with the project.