Milwaukee-based WEC Energy Group’s capital investment plan for the next five years includes an additional $1.9 billion in spending on renewable energy in comparison to the current five-year investment plan.
WEC Energy’s 2023-27 capital plans calls for $7.3 billion in spending on renewables, up from $5.3 billion in the 2022-26 plan.
The increase translates to roughly 900 megawatts of additional renewable energy generation. In total, the new plan calls for 1,900 MW of solar generation, 670 MW of wind generation and 720 MW of battery storage generation, Xia Liu, chief financial officer of WEC Energy Group, said on the company’s earnings call.
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