WEC Energy Group announces plan for Wisconsin's first large-scale solar and battery storage project
WEC Energy Group (NYSE: WEC) has proposed the Paris Solar-Battery Park in Kenosha County, which would be Wisconsin's largest solar and battery storage facility.
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Rhea-AI Summary
WEC Energy Group (NYSE: WEC) has proposed the Paris Solar-Battery Park in Kenosha County, which would be Wisconsin's largest solar and battery storage facility. The project features 200 MW of solar energy, powering approximately 60,000 homes, and 110 MW of battery storage. This initiative is part of a $2 billion investment plan in renewable energy by 2025 and aims to reduce carbon emissions by 70% by 2030. If approved by the Public Service Commission of Wisconsin, construction will start in 2022, with operations set for 2023.
Positive
- Proposal for Wisconsin's largest solar-battery facility with 200 MW solar and 110 MW battery storage.
- Investment of $2 billion in renewable energy projects by 2025.
- Expected reduction of carbon emissions by 70% by 2030.
- Projected savings of over $1 billion for utility customers over 20 years.
Negative
- None.
Details
News Market Reaction – WEC
The recorded move for WEC in the trading session of this news was +1.05%.
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MILWAUKEE, Feb. 16, 2021 /PRNewswire/ -- WEC Energy Group (NYSE: WEC) today proposed plans for a new 310-megawatt (MW) solar and battery storage project. If approved, the Paris Solar-Battery Park in Kenosha County would be the largest facility of its kind in Wisconsin.
The facility features 200 MW of solar generation — which is equal to powering 60,000 homes, and 110 MW of battery storage — which can store solar-generated power and discharge it when the sun goes down, providing customers with "sunshine after sunset."
"This project is another concrete example of our commitment to build a bright, sustainable future," said Tom Metcalfe, president — We Energies and Wisconsin Public Service. "As the largest renewable energy investor in the state, we know the importance of clean energy. Projects like this maintain reliability, deliver significant savings to customers and support the goals of the Governor's Task Force on Climate Change."
The Paris Solar-Battery Park is part of the company's plans to invest
Clean energy investments, like the Paris project, are an important part of the company's goal to reduce carbon emissions 70 percent by 2030. The company's longer-range plan is expected to save utility customers more than
The company filed the battery and solar storage proposal today with the Public Service Commission of Wisconsin. If approved, WEC Energy Group utilities We Energies and Wisconsin Public Service, would own 90 percent of the project. Madison Gas and Electric would own the other 10 percent.
The project is being developed by Invenergy. If approved, construction is expected to begin in 2022 and the project is scheduled to go into service in 2023.
WEC Energy Group (NYSE: WEC), based in Milwaukee, is one of the nation's premier energy companies, serving 4.6 million customers in Wisconsin, Illinois, Michigan and Minnesota.
The company's principal utilities are We Energies, Wisconsin Public Service, Peoples Gas, North Shore Gas, Michigan Gas Utilities, Minnesota Energy Resources and Upper Michigan Energy Resources. Another major subsidiary, We Power, designs, builds and owns electric generating plants. In addition, WEC Infrastructure LLC owns a growing fleet of renewable generation facilities in the Midwest.
WEC Energy Group (wecenergygroup.com) is a Fortune 500 company and a component of the S&P 500. The company has approximately 42,000 stockholders of record, 7,500 employees and
View original content:http://www.prnewswire.com/news-releases/wec-energy-group-announces-plan-for-wisconsins-first-large-scale-solar-and-battery-storage-project-301229214.html
SOURCE WEC Energy Group
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