The parent company of We Energies plans to spend $250 million to acquire an 80% stake in a solar project located around 140 miles northeast of Dallas, Texas.
Milwaukee-based WEC Energy Group will acquire the stake in the 250-megawatt Samson I Solar Energy Center, which was developed and built by Chicago-based Invenergy. The project began commercial operation in May 2022 and AT&T has a long-term power purchase agreement for the electricity it generates.
The acquisition is being made by WEC’s non-utility energy infrastructure segment, which has made a number of investments in renewable projects in recent years. Most of the projects have been wind farms located in Illinois, Kansas, Nebraska and South Dakota.