We Energies Plans New Data Center Developments Amid Growing Energy Demand
WEC Energy Group anticipates additional hyperscale data center announcements, driven by rising energy demands and regulatory approvals. The company is focusing $37.5 billion in investments over five years, with substantial allocations for renewable energy and gas-fired plants.
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WEC Energy Group projects a 3.9 GW increase in energy demand over five years, mainly due to Microsoft's $20 billion data center investment in Mount Pleasant and Vantage Data Centers' $15 billion project in Port Washington. The company plans to allocate a significant portion of its $37.5 billion investment for large customer projects, including $12.6 billion for renewable energy.
Utility regulators have rejected a cost-sharing proposal for data centers, requiring tech companies to cover all related infrastructure expenses. Environmental concerns arise as WEC Energy Group pauses near-term carbon reduction goals, with a focus on reliable power as it delays coal unit retirements. The company is also seeking approval for a $5.5 billion plan to add almost 3 GW of power, including solar projects and new gas-fired plants, indicating a response to rising energy demands.
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