WEC Energy To Acquire 90% Stake In Delilah I Solar Energy Center For $459 Mln

(RTTNews) - WEC Energy Group, Inc. (WEC) announced on Monday that it will acquire a 90% ownership stake in the Delilah I Solar Energy Center for $459 million.

The Dallas, Texas-based Delilah I project, a 300-megawatt initiative developed and constructed by Invenergy, is set to commence commercial operations by the end of June.

Delilah I is expected to produce sustainable energy through a lengthy power purchase contract with a global automaker. The project is a component of the Samson & Delilah solar portfolio, which consists of five phases and is among the biggest solar projects being built in the United States.

WEC Energy also stated that the investment in Delilah I is qualified for production tax credits in accordance with the Inflation Reduction Act approved by Congress.

In pre-market activity on the NYSE, WEC Energy shares were trading at $81.73, up 0.29%.