WEC Energy Group Reiterates 7%-8% Growth Target on Data Center Demand
WEC Energy Group (NYSE: WEC) reaffirmed its long-term earnings growth target of 7% to 8% annually through 2030, driven by increasing demand from data center development. The utility highlighted substantial capital investment plans supported by major tech companies. The company noted its plan is expected to carry 50% equity content.
Watch $WEC+WL as the company advances its capital plan, with approximately 15% of its asset base expected to be dedicated to very large customers by 2030. The board's 6.7% dividend increase announced in January provides a baseline for shareholder returns.