FirstEnergy Corp Expands Renewable Energy Portfolio with New Solar Site in West Virginia

In a strategic move to bolster its renewable energy capabilities, FirstEnergy Corp, a leading utility holding company based in Akron, has successfully completed its third solar site in Berkeley County, West Virginia. This new 36-acre solar project, developed by Mon Power and Potomac Edison—subsidiaries of FirstEnergy—marks a significant step in the company’s commitment to sustainable energy solutions.

The solar site, which adds 5.75 megawatts of renewable power capacity, is a testament to FirstEnergy’s proactive approach in transitioning towards cleaner energy sources. The project involved the productive repurposing of a former ash landfill site, showcasing the company’s innovative strategies in land use and environmental stewardship. This initiative not only contributes to meeting West Virginia’s electricity needs but also aligns with broader environmental goals.

The construction of the solar site has had a positive impact on the local economy, creating 54 union jobs. This development underscores FirstEnergy’s role in fostering community growth and supporting local employment through its renewable energy projects.

Financially, FirstEnergy Corp remains a robust entity in the utilities sector. As of May 29, 2025, the company’s stock closed at $41.94 on the New York Stock Exchange, with a market capitalization of $24.23 billion. Despite fluctuations, the stock has shown resilience, with a 52-week high of $44.97 and a low of $37.58. The company’s price-to-earnings ratio stands at 22.37, reflecting investor confidence in its growth trajectory.

The completion of this solar project is part of a larger trend in the energy sector, where investors are increasingly focusing on renewable energy infrastructure. This shift is evident in the rising popularity of investment trusts and funds dedicated to renewable energy, as highlighted in recent financial reports.

FirstEnergy’s strategic investments in solar energy not only enhance its energy portfolio but also position the company as a forward-thinking leader in the transition to sustainable energy. As the demand for renewable energy continues to grow, FirstEnergy’s initiatives are likely to play a pivotal role in shaping the future of energy in the United States.