WEC Energy Group to acquire 90% ownership of Delilah I Solar Energy Center
WEC Energy Group has announced the acquisition of a 90% ownership interest in the Delilah I Solar Energy Center, a 300-megawatt project near Dallas, Texas, developed by Invenergy. The project will generate renewable energy for a global automaker under a long-term power purchase agreement. WEC's investment is expected to total $459 million. This acquisition is part of WEC's commitment to investing in clean energy solutions and marks the company's continued expansion in the renewable energy sector.
Acquisition of a 90% ownership interest in the Delilah I Solar Energy Center, a 300-megawatt project near Dallas, Texas.
Investment expected to total $459 million, highlighting WEC's commitment to clean energy solutions.
Project to generate renewable energy under a long-term power purchase agreement with a global automaker, supporting their clean energy goals.
Part of the five-phase Samson & Delilah solar portfolio, one of the largest solar facilities under construction in the United States.
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Insights
Delilah I is a 300-megawatt project located approximately 140 miles northeast of
Delilah I will generate renewable energy under a long-term power purchase agreement with a global automaker. WEC Energy Group's investment is expected to total
"The Delilah Solar project is an exciting addition to our Infrastructure business and highlights our continued investment in affordable, reliable and clean energy. This project will help one of the world's largest automakers meet their clean energy goals for years to come," said Gale Klappa, executive chairman.
Delilah I is part of the five-phase Samson & Delilah solar portfolio, one of the largest solar facilities under construction in
The Delilah Solar investment is eligible for production tax credits as outlined in the Inflation Reduction Act passed by Congress. The transaction is subject to receipt of all necessary regulatory approvals.
WEC Energy Group's Infrastructure segment has existing or planned investments in 11 solar and wind projects totaling more than 2 gigawatts of capacity. All of the projects have long-term off-take agreements.
WEC Energy Group (NYSE: WEC), based in
The company's principal utilities are We Energies, Wisconsin Public Service, Peoples Gas, North Shore Gas, Michigan Gas Utilities, Minnesota Energy Resources and Upper Michigan Energy Resources. Another major subsidiary, We Power, designs, builds and owns electric generating plants. In addition, WEC Infrastructure LLC owns a growing fleet of renewable generation facilities in states ranging from
WEC Energy Group (wecenergygroup.com) is a Fortune 500 company and a component of the S&P 500. The company has approximately 35,000 stockholders of record, 7,000 employees and more than
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