New Energy
WEC Energy Offered $2.5 Billion US Loan for Renewable Projects
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The Biden administration is offering WEC Energy Group Inc.’s Wisconsin subsidiary as much as $2.5 billion in financing for the construction of renewable power and battery storage projects.
The Energy Department’s conditional loan guarantee to Wisconsin Electric Power Co. would be used to fund the addition of more than 1,650 megawatts of utility-scale projects that are expected to include wind, solar, energy storage and hydropower. The financing, through the department’s Loan Programs Office, is still subject to additional requirements before being finalized, and could be halted by the incoming Trump administration if not finalized before his inauguration on Jan. 20.