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WEC Energy to spend $250M for 80% stake in Samson solar project

Jan. 31, 2023 9:28 AM ETWEC Energy Group, Inc. (WEC)By: Carl Surran, SA News Editor5 Comments

Solar power farm in the evening.

Pavel Babic

WEC Energy (NYSE:WEC) said Tuesday it agreed to acquire an 80% ownership interest in the Samson I Solar Energy Center in Texas for ~$250M.

Samson I is a 250 MW solar project that already is generating renewable

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Comments (5)

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If they can turn a profit on solar in Texas, and turn a profit on wind somewhere, then ok. They can not turn a profit on wind and solar in Wisconsin.
waterlogger profile picture
Big long term stable customer in AT&T outside Wisconsin regulator's clutches. What's not to like?
What are the odds on future partial ownership for additions 2 through 5?
Current owners usually get first option on contracts.

If they keep digging out Invenergy projects to buy, they should consider acquiring the company.
It would be cheaper in the long run, and WEC could cherry pick projects to add to their collection with big long term customers in favorable locations and market sectors.
mikejack profile picture
So wec captures 80% of the PTC and ITC. It’s all about money and meeting the state’s renewable goals
@mikejack I don't recall a vote being taken in my state setting these "renewable goals"...
there goes my electricity bill...

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