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Xcel Energy to sell 760MW natural gas–fired power plant to Southwest Generation
Transactions - APRIL 8, 2020

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Xcel Energy to sell 760MW natural gas–fired power plant to Southwest Generation

by Kali Persall

Xcel Energy revealed that it is planning to sell the 760-megawatt Mankato Energy Center, a natural gas–fired power plant, to Denver-based independent power producer Southwest Generation for $680 million.

The company said it plans to use the net gain on the sale to fund its corporate giving efforts, including support related to COVID-19 recovery.

“This is an unprecedented time, and we want to do our part to support our communities as we face the challenges brought on by the COVID-19 pandemic,” said Ben Fowke, chairman and CEO of Xcel Energy. “And now more than ever, the people we serve need safe, reliable, affordable power.”

Xcel Energy purchased the plant in early 2020 through a non-regulated affiliate company. Earlier this year, Southwest Generation offered to acquire the facility to add to its growing fleet of natural gas plants. The company currently owns and operates approximately 1.7 gigawatts of generation capacity across the western United State

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