WEC Energy buys into mammoth Texas solar project
WEC Energy Group has acquired an 80% ownership interest in the first phase of the Samson Solar Energy Center.
The company is expecting to purchase the interests for $250 million from Invenergy.
Located in Texas, Samson I is an operational 250MW solar project. The project first came online in May 2022, and contracted a long-term power purchase agreement with AT&T.
Samson I secured construction financing in a 2021 deal arranged by Santander, Société Générale and CaixaBank (PFR, 1/13/21).
The project is part of the five-phase Samson Solar Energy Center, the largest solar complex under construction in the US. Once completed, the complex will have an installed capacity of 1.3GW.
"The Samson Solar project is an exciting addition to our Infrastructure business and highlights our continued investment in affordable, reliable and clean energy. This project will help one of the world's largest telecommunications companies meet their clean energy needs for years to come," said Gale Klappa, executive chairman.
Last November, WEC Energy made the company’s first solar investment, acquiring 80% ownership interests in Maple Flats Solar Energy Center, a 250MW project in Illinois also developed by Invenergy (PFR, 11/1).