WEC Energy Group to acquire 80% stake of Samson I Solar Energy Center

WEC Energy Group has agreed to acquire an 80% ownership interest in the Samson I Solar Energy Center. Samson I is a 250 MW solar photovoltaic project that is located about 140 miles northeast of Dallas, Texas, USA. The project was developed and built by Invenergy.

Samson I is generating renewable energy under a long-term power purchase agreement with AT&T. WEC Energy Group's investment is expected to total approximately US$250 million for the 80% ownership interest. Commercial operation began in May 2022.

Samson I is part of the five-phase Samson solar portfolio. The portfolio is being built on 18,000 acres in northeast Texas, and when completed, it's expected to total 1,300 MW. Samson is the largest solar project under construction in the US.

The Samson Solar investment is eligible for production tax credits as outlined in the Inflation Reduction Act passed by the US Congress. The transaction is subject to receiving all necessary regulatory approvals.