WEC Energy to take majority stake in 300-MW solar project in Texas

Today, US utility WEC Energy Group ( NYSE:WEC ) announced that it has finalized a deal to acquire a 90% interest in a 300-MW solar project in Texas developed and constructed by US clean energy developer Invenergy.

The transaction is valued at approximately USD 459 million (EUR 428.5m), as stated in a press release.

Situated approximately 140 miles (225 km) northeast of Dallas, the Delilah I Solar Energy Center has a long-term power purchase agreement (PPA) with a global automaker and is set to commence commercial operations by the end of June.

Delilah I is a component of the larger Samson & Delilah solar portfolio, which is being promoted as one of the largest solar facilities currently being built in the US.

WEC Energy Group already holds a majority stake in the 250-MW Samson I, another phase of the portfolio.

Headquartered in Milwaukee, WEC Energy Group serves 4.7 million customers in Wisconsin, Illinois, Michigan, and Minnesota.

The company’s infrastructure segment has current or planned investments in 11 PPA-backed solar and wind projects with a combined capacity exceeding 2 GW.
(USD 1 = EUR 0.933)

Source WEC Energy

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