What's Going On With WEC Energy Shares Monday?

Zinger Key Points
  • WEC Energy rises after $459 million acquisition of 90% stake in Delilah I Solar Energy Center, part of Samson & Delilah project.
  • Delilah I, a 300 MW solar facility in Texas, supports clean energy goals, underscores commitment to affordable and reliable power.

WEC Energy Group, Inc. WEC shares are trading higher after the company inked a deal to acquire a 90% ownership interest in the Delilah I Solar Energy Center for $459 million.

Delilah I is a 300-megawatt project located around 140 miles northeast of Dallas, Texas, and the commercial operation is expected to begin by the end of June.

Delilah I is part of the five-phase Samson & Delilah solar portfolio and is one of the largest solar facilities under construction in the U.S. 

WEC Energy Group owns a majority stake in Samson I, which is a separate phase of the Samson & Delilah project.

Gale Klappa, executive chairman, said, “The Delilah 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 automakers meet their clean energy goals for years to come.” 

The company plans to release first-quarter FY24 earnings on May 1.

Investors can gain exposure to the stock via Invesco Dorsey Wright Utilities Momentum ETF PUI and First Trust EIP Carbon Impact ETF ECLN.

Price Action: WEC shares are up 1.41% at $82.64 at the last check Monday.

Photo via Shutterstock

Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Posted In: EquitiesLarge CapM&ANewsBriefsStories That Matter
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!