WEC Energy Group is adding $3.3 billion to its new five-year capital investment plan, including an additional $1.4 billion in renewable energy generation.
The plan, which covers 2024 to 2028 now calls for $23.4 billion in spending, up from $20.1 billion in the plan covering 2023 to 2027. WEC Energy Group is the parent company of a number of utilities in Wisconsin, Illinois, Michigan and Minnesota, including We Energies.
Gale Klappa, executive chairman of WEC Energy Group, said the increased spending is being primarily driven by economic development in the I-94 corridor in southeastern Wisconsin. In a call with analysts, Klappa repeatedly mentioned Microsoft’s plans for a data center campus as one of the major drivers.