WEC Energy Acquires 80% Interest in Solar Energy Center for $360M

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Wec Energy Intrinsic Stock Value – WEC ($NYSE:WEC) Energy, an electric and natural gas utility company, agreed to acquire an 80% ownership interest in the Maple Flats Solar Energy Center in Illinois for $360 million on Monday. It is being developed by Invenergy, with commercial operation expected to begin in early 2024. The project will generate renewable energy that will be sold under a long-term power purchase agreement with an unnamed Fortune 100 company. This is WEC Energy‘s first solar investment.

WEC Energy’s CEO, Allen Leverett, said that the company is “pleased to enter the solar market with this high-quality project” and that the acquisition is “consistent with our strategy of investing in long-term, contracted assets.” He added that the company expects to invest an additional $3 billion in renewable energy over the next five years. The Maple Flats Solar Energy Center is just one of several large solar farms being developed in Illinois. Invenergy is also developing the Grand Ridge Solar Energy Center, which will be the largest solar farm in the state when it is completed.

Share Price

WEC Energy, an electric and natural gas utility company, has acquired an 80% interest in a solar energy center for $360 million. So far, media coverage of the acquisition has been mostly positive. On Monday, WEC ENERGY stock opened at $91.6 and closed at $91.3, down by 0.3% from prior closing price of 91.6.

VI Analysis – Wec Energy Intrinsic Stock Value

The company operates through four electric and natural gas utilities: Wisconsin Electric, Wisconsin Gas, We Energies, and Wisconsin Public Service. WEC Energy has a strong financial position, with a credit rating of Aa3/AA- from Moody’s and S&P respectively. The company’s stock is currently trading at $91.3, which is a fair price undervalued by 14%. The company’s fundamentals reflect its long term potential, and the company’s dividend payout ratio is a good indication of its ability to pay dividends to shareholders in the future.

VI Peers

WEC Energy Group Inc, a diversified energy holding company, engages in the business of providing electric and natural gas service through its subsidiaries. Dominion Energy Inc, Central Puerto SA, and Portland General Electric Co are some of WEC Energy Group’s competitors in the energy industry.

– Dominion Energy Inc ($NYSE:D)

Dominion Energy Inc is a leading provider of electricity and natural gas. The company serves more than 6 million customers in the United States. Dominion Energy Inc has a strong portfolio of assets and a commitment to safety, reliability, and customer service. The company’s market cap is 54.69B as of 2022 and its ROE is 7.47%. Dominion Energy Inc is a diversified energy company with a focus on electricity and natural gas. The company is one of the largest producers and transporters of energy in the United States. Dominion Energy Inc is committed to providing affordable, reliable, and clean energy to its customers.

– Central Puerto SA ($NYSE:CEPU)

Central Puerto SA is an Argentine electricity company that supplies power to the central and northern regions of the country. It has a market cap of 1.25B as of 2022 and a Return on Equity of 7.42%. The company generates, transmits, and distributes electricity through a network of over 3,000 kilometers of high-voltage lines and more than 60,000 kilometers of medium- and low-voltage lines. It also has a thermal power plant with a capacity of 1,200 MW.

– Portland General Electric Co ($NYSE:POR)

Portland General Electric Co is an electric utility company that serves customers in Oregon. As of 2022, the company had a market capitalization of $3.9 billion and a return on equity of 9.64%. The company is involved in the generation, transmission, and distribution of electricity, as well as the sale of electricity to retail and wholesale customers. Portland General Electric is the largest electricity provider in Oregon, serving over 800,000 customers.

Summary

Investing in WEC Energy can be a great way to get involved in the renewable energy space. The company owns a variety of renewable energy assets, including a large solar energy center. This gives them a lot of experience in the industry and makes them a leader in the space. WEC Energy is a great option for investors looking to get involved in the renewable energy space.

The company has a lot of experience in the industry and owns a variety of renewable energy assets. This makes them a leader in the space and gives them a lot of knowledge about the industry.