{"id":6969,"date":"2022-04-04T09:42:09","date_gmt":"2022-04-04T17:42:09","guid":{"rendered":"https:\/\/solarpowerinvestor.com\/?p=6969"},"modified":"2022-04-04T15:27:53","modified_gmt":"2022-04-04T23:27:53","slug":"three-wisconsin-utilities-purchase-stake-in-paris-solar-project-for-433-million","status":"publish","type":"post","link":"https:\/\/solarpowerinvestor.com\/three-wisconsin-utilities-purchase-stake-in-paris-solar-project-for-433-million\/","title":{"rendered":"Three Wisconsin Utilities Purchase Stake in Paris Solar Project for $433 Million"},"content":{"rendered":"
Paris Solar Center, a solar PV and battery storage project developed by Invenergy, has been purchased by three Wisconsin utilities companies. The syndicate includes We Energies<\/a> (75%), Wisconsin Public Service<\/a> (15%) and Madison Gas and Electric<\/a> (10%). The total acquisition cost totaled to $433 million. The project is expected to begin generating power by early Spring or Summer of 2023. The 200-megawatt system will generate enough electricity to power 60,000 homes annually.<\/p>\n We Energies is an energy provider to Wisconsin and northern Michigan. The Company is looking to grow through acquisition and announced last year that they hope to spend upwards of $2 billion on new solar, wind, and battery storage projects by 2025. In spring 2021, they made an attempt to acquire 465MW Koshkonong Solar Energy Center in south-central Wisconsin for $649 million.<\/p>\n Wisconsin Public Service provides energy to nearly 450,000 homes and businesses in Wisconsin and Michigan and is a subsidiary of WEC Energy Group<\/a> (NYSE: WEC). Similar to We Energies, WEC has also turned to M&A as a source of growth. They are projecting to spend $1.9 billion on investments from 2022-2026 and currently have disclosed \u201clong term purchase power agreements in place with creditworthy customers\u201d. Additional wind infrastructure investments are below.<\/p>\n Madison Gas and Electric is an energy provider based in Madison, WI. They generate and distribute electricity to ~300,000 customers in central and western Wisconsin. Madison Gas and Electricity is the primary asset of MGE Energy<\/a> (Nasdaq: MGEE), a public utility holding company. MGE has been less acquisitive than its peers, but will likely have to transform its business through M&A as it looks to reduce its carbon output by 80% by 2030.<\/p>\n In order to meet the goals of the Paris Agreement, it will be necessary to invest in solar and other clean energy sources. This will require an investment of $4 trillion per year by 2030. According to the Renewable Energy Laboratory, by 2030 solar panels could cover 3 million acres. This will provide landowners with an opportunity to make money off their land, and will also increase the number of landowners willing to participate in such projects.<\/p>\n","protected":false},"excerpt":{"rendered":" Paris Solar Center, a solar PV and battery storage project developed by Invenergy, has been purchased by three Wisconsin utilities companies. The syndicate includes We Energies (75%), Wisconsin Public Service (15%) and Madison Gas and Electric (10%). The total acquisition cost totaled to $433 million. The project is expected to begin generating power by early […]<\/p>\n","protected":false},"author":1,"featured_media":6977,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_uag_custom_page_level_css":"","footnotes":""},"categories":[45,3,4,322],"tags":[5271,1007,3005],"yoast_head":"\nWe Energies<\/h3>\n
Wisconsin Public Service<\/h3>\n
<\/h3>\n
Madison Gas and Electric<\/h3>\n
Overview<\/h3>\n