US utility WEC Energy Group announced the finalization of an agreement to acquire a 90% stake in a 300-MW solar project located in Texas, developed and constructed by US clean energy developer Invenergy. The deal, valued at approximately USD 459 million (EUR 428.5m), marks a significant investment in renewable energy infrastructure.
The Delilah I Solar Energy Center, situated approximately 140 miles (225 km) northeast of Dallas, is the focal point of the agreement. Equipped with a long-term power purchase agreement (PPA) with a global automaker, the facility is slated to commence commercial operations by the end of June.
Part of the expansive Samson & Delilah solar portfolio, Delilah I stands as one of the largest solar facilities under construction in the US. WEC Energy Group already holds a majority stake in the 250-MW Samson I, a distinct phase within the portfolio, further solidifying its commitment to renewable energy expansion.
Headquartered in Milwaukee, WEC Energy Group serves a customer base of 4.7 million across Wisconsin, Illinois, Michigan, and Minnesota. The company's infrastructure segment boasts a robust portfolio, with existing or planned investments in 11 PPA-backed solar and wind projects, collectively representing a capacity exceeding 2 GW.
“The acquisition of a majority stake in the Delilah I Solar Energy Center underscores our ongoing commitment to advancing renewable energy initiatives and supporting the transition to a sustainable energy future,” remarked a spokesperson from WEC Energy Group, emphasizing the strategic importance of the investment.
