The Public Service Commission of Wisconsin unanimously approved We Energies’ purchase of the Paris Solar-Battery project. We Energies, Wisconsin Public Service, and Madison Gas and Electric are acquiring the 200 MW solar project that will produce enough power for about 60,000 homes and 110 MW of battery storage.
The project is located on about 1,500 acres in the Town of Paris in Kenosha County comprises about 750,000 solar panels.
WEC Energy Group utilities We Energies and Wisconsin Public Service will own 90% of the project. Madison Gas and Electric will own the other 10%.
Construction is scheduled to start in 2022, and the project is expected to go into service in 2023.
WEC Energy Group has committed to industry-leading emission reduction goals from electric generation – 60% below 2005 levels by the end of 2025, 80% below 2005 levels by the end of 2030, and net carbon neutral by 2050.
“The Paris Solar-Battery Park is part of our commitment to invest $3.5 billion in renewable energy projects in the coming years. These investments will help us aggressively reduce greenhouse gas emissions while providing affordable, reliable, and clean energy for a sustainable future,” said Scott Lauber, president, and CEO at WEC Energy Group.
The project is part of efforts to go carbon-neutral by 2050, aligning with Governor Tony Evers’ goal for utilities to produce carbon-free electricity in the next 30 years.
According to Mercom Capital Group’s 2021 Q4 and Annual Funding and M&A report for Storage, Grid & Efficiency, a total of 37 battery storage project M&A transactions were announced in 2021 compared to 24 in 2020. Three GW of battery storage projects were acquired in 2021 compared to 2.5 GW in 2020.
More than 69 GW solar projects were acquired compared to 40 GW in 2020, according to Mercom’s solar funding report.